My daughter has one. They're an interesting machine. They're Singer's first "electric only" model of sewing machine and they have a fully rotary hook. They use standard needles and class 66 bobbins so those parts are easily available. I don't remember the price of motors-most likely higher than the cost of a complete machine but the motors are unique to that model. I think they were fairly expensive to produce compared to other machines. I also think the one we have here is under-powered compared to our other machines. The $60 complete machine would be the better one if it ran. It could be an easy fix, it could be worse than that. No way to know from here. There should be a knee controller built into the cabinet. If you decide you want one get both so you can make one good runner.
Rodney