As soon as you decide to get rid of it, you will want it for handquilting -- ask me how I know that!
I now use a hoop for my personal quilts, but I keep a vintage floor frame like this one for a "community learning quilt" that goes to shows, fund-raising events, art-in-the-park venues, and to teach school kids about the art of quilting during their "Heritage Week." Everyone from 4 to 94 years old has quilted on this one over the 25 years I've done this. Lots of stitches put in, many taken out and the blocks re-quilted by others.
Just hang onto it. I don't care for them for basting; a table surface and clamps is better in my opinion.
Jan in VA