Well, DH found the paperwork after a week...survey SAYS...
Mercury M-280L Compound needle feed walking-foot sewing machine
"Can be adjusted to sew from light to heavy fabrics and leather. Presser feet are interchangeable with standard Singer type 111w feet and attachments."
Says speed is adjustable, too. Cool. I haven't touched it yet, but I guess this answers a lot of the questions. I'll let you know how it works out if I get to actually use it
Exploded parts chart is REALLY ugly