GSweldmech....
As you are finding out, the used lathe market is a fickle one. Either the lathes seem to be worn out "old iron" or newer ones of questionable origin. However, I am going to guess that Enco was likely made in Taiwan. As others have said, unless it was completely shot, I would be all over it for $1500. That is a steal.
I am about to pull the trigger on a new Eisen lathe. They are made in Taiwan by Sunmaster, which is a huge manufacturer of metalworking machines, and they have been in business since 1994, which to me seems like yesterday but when I actually do the math it is
27 years (Errrrmmmm, where does time go?!).
As ProjectNut pointed out above, there is a LOT of luck involved in finding a lathe. Knowing the right people, at the right time, being in the right place. In 5 years of searching, I have found about 3 lathes that I would consider contenders, the most recent a LeBlond 15x54 servo shift, but alas, I decided it was just too dang big to be moving. It went for $4775 plus tax and auction fee (total 22.5%) for $5849. Plus, you had to hire a machinery mover to lift it onto your trailer (insurance reasons) so another $600. That put it at $6489. It came with nothing. No tool post, no chucks. Nothing. That lathe would have been $8000 by the time you were done.
Another one I found was a Jet 1440. Looked like new almost. It was in a basement and the new homeowners wanted it out. By the time I saw the ad and picked up the phone, it was gone. $1200. I will never see one like that again.
There is a beautiful but older Clausing-Colchester in Minneapolis. $13,000. Yep, $13k
If you are willing to wait to get what you want, you can probably find it. Luck may be on your side and this Enco will work out, or it could be another year or two before something comes along that is a "deal" and fits your list of "needs".
The Eisen I am considering will be about the same price as the LeBlond when I am done. But it fits my space much better and I can buy it now, with no searching. Somewhat a rambling post here, and to continue with my rambling theme, I used to have a friend that could not figure out why mini-vans were so popular. He kept pointing out that a full size conversion van was the same price. I kept pointing out that the full size vans are harder to park, take a lot of gas, drive like a boat and only had one sliding door. It is all about what fits ones needs.