The older Japanese machines are well worth putting time and effort into. What have you got to lose. If you get it working you will have a very nice machine. If you play with it and it doesn't work you will have learned something. Here are links to more pictures etc of old Japanese machines:
http://www.quiltingboard.com/vintage...s-t207880.html
and
http://www.quiltingboard.com/vintage...s-t207877.html