Sounds like a starter setup, which is fine if the price is right. Is this the sewing machine?
http://www.amazon.com/Janome-Industr...sewing+machine
I tried out a Janome 1600 on an EasyQuilt frame at a quilt show and it was fun to use. My guess is the Jandt is a frame that just didn't last in the marketplace. It might have some flaws that make it less than ideal to use, but it still could be fun. Setups like this are a good place to start if you think you want to get into longarm quilting. It would be considered a shortarm setup (midarms start around 13" of harp space, longarms around 18" of harp space). The Janome 1600 is good for a frame setup because it does a lot of stitches per minute compared to regular domestic machines.
What price is asked for the combo? At a yard sale I would basically want to get the machine for half-price and the frame thrown in (since so little is known about it). I'm thinking $500 or less for both would be a good deal as long as you are able to try out the machine and make sure it's working well.