One of the issues you might run into is that the software may run on older operating systems. Also, does the machine use a floppy, embroidery card or usb? Sounds as if the software ($800 still) might still be a current version. Did you verify that it will work on the H79? Also, depending on what software is compatible with the H79, there are much less expensive options.
That said, $59 seems like an incredible price for an embroidery machine!! Even used embroidery machines run $300 up. I would see if Hancock's will let you open the box and read the manual (maybe requirements are printed on the box?) so that you can determine its compatibility with currently available software/operating systems. And check to see if there is a warranty repairman available.
Just an FYI...many times the designs pre-loaded on the machine are not that great as in they don't stitch out that well or are not thread count extensive...like just an outline stitch, etc.) But at this price, its work a look-see!!