Hey PaPa_Jack,
This is likely a catalog number on one of the plates, and a serial number stamped into the bed ways at the tailstock end, front.
With the catalog number I could probably look thru old catalogs and find the exact model to give some specs. including weight.
The serial number can be looked up here:
http://southbendlathe.com/older-machines/serial-numbers
(for basic info)
and here:
http://www.wswells.com/serial_number.html
to give an idea of age.
$700 is a pretty good price, depending on condition.
If you get more pictures or the info above then please post back.
-brino