You are going to want a travel indicator like this:
http://www.use-enco.com/CGI/INSRIT?PARTPG=INLMKD&PMPXNO=5283730&PMAKA=890-9824
I also like a magnetic back travel indicator like this (acts s a poor man's DRO for cross feed or Z movement, you stick it to the ways with the point on the cross slide when you need to measure 0-0.100" movement accurately).
You also need to get a cut-off tool of some variety. HSS is cheap to start, but carbide insert ones work so much better.
That lathe is probably under half a ton so you should be good there.
While the lathe weighs 882#, be careful with picking it up with your 1000# rated FEL, since you will be near the limit, especially with the offset from the bucket attachment point to where the lathe is attached will reduce your load capacity.
The manual provides specific instructions how to use straps for picking it up, since if you put them in the wrong place you can bend the leadscrew, which would be bad.
The manual provides a specific hour long initial break-in process for running in the spindle, so make sure you follow that before you start doing some crazy cutting.
If you haven't used a gear-head lathe:
- sometimes it is difficult to switch between gears because teeth don't align. You can solve this by rotating the chuck by hand (preferred) until you can slip it into gear or VERY briefly tapping the JOG button to move the gearing a bit so it will slip in (stand by for the crowds that don't like this idea...).
- Also, sometimes you run into the same issue where you can't get longitudinal or cross power feed to engage. Rotate the carriage hand wheel (longitudinal feed) or cross slide handle (cross) slightly to allow the gears to mesh.
- When threading, you don't have to slam the half-nuts into position at the precise moment that the needle lines up with the threading dial. The half-nut will only drop in when it lines up, which might be a little off from the needle (and that is OK)... just ease it in and you can feel when it can engage.