Thats a good price. A gear box for the cutter beats changing belts. The capability of being able to change from a horizontal, to a vertical, and anywhere in between, is a big plus. But you give up the ability for a quill feed (the knee is your only up/down).
Looks to use the Van Norman collets, not the NMTB50 like a lot of other 22's. Also is a 22LU, with the universal table (can be rotated), Never quite found a reason for rotating it. If considering, keep in mind it has two motors, the 2HP one on the top, for the cutter head, and another 1&1/2 to 2 HP in the base, that powers the table/knee. Also has a sump in the base for a coolant system, It appears that this one was not ordered with the pump but would not take much to add the pump, and a screen where the plates is for the return to the sump.
I love mine, the mill is more then strong enough to do anything most hobbyists will ever need. Mine easily handled boring out a small block mopar engine.