Definitely
NOT a Japanese clone - see
http://www.quiltingboard.com/picture...p-t164361.html Lots of differences between this machine and the
later Japanese machines.
Definitely worth something, as far as I'm concerned any old machine is worth saving from the dump or being repurposed. It can be rewired. It is a direct drive and probably the rubber drive has a dent in it. It might be able to be replaced or rejuvenated. Hopefully, you have some of the other feet for it, as the top clamp feet came in many different flavors.
That is a neat cabinet. Comparatively, it looks to be in fairly good shape and shouldn't be too hard to get looking pretty nice. Glenn's wood cabinet tutorial (which I can't find right now) has a formula that is fairly simple and makes the wood look good. I like the design.
Janey - Neat people never make the exciting discoveries I do.