I agree - don't spend a lot of money on a machine - the price is right. Check to make sure everything moves - knobs do freeze up if they aren't used regularly. Check to see if it sews like Sue already mentioned.
Those old ones can be real gems. No matter what you sew 99% will be likely straight stitches. If everything works you won't need a newer machine. We have a couple threads on here about the Japanese machines - you might benefit from reading through the comments:
http://www.quiltingboard.com/vintage...s-t207877.html AND
http://www.quiltingboard.com/vintage...s-t207880.html