I have that machine and I love it. At 1500 st per minute, it really goes! I bought it with a frame similar to the one pictured above, but found the quilting area to be painfully small, especially once you start rolling the quilt. My machine repair man said it needs a drop of oil every four bobbin changes, and I do that religiously, on account of the high speed at which it can be run at.
I use it mainly for piecing now, and it truly is a work horse. It does not have a 1/4" foot, but a tip I learned from Bonnie Hunter was to tape an old key card from a motel room out a 1/4 inch and this provides a nice edge to work against.
Enjoy your new machine!