I don't know what the going rate is down that way. But that sound about right what people are asking for a machine in that appearance.
Some things to consider. This machine doesn't have a one shot oiler, the zerks on the saddle are NOT for grease. They are for oil. You might consider getting an import oiler and upgrading. Look for bozo marks on the table. Check to see how much back lash there is in the X and Y feeds. Run the table all the way in all directions and check for tightness. It'll likely be stiffer at the extremes as that is where the least wear will be. Check the brake, condition of the belts and both hi and lo gears. I'd also check to make sure the power down feed on the quill works like it's supposed to.
If you buy it, the minimum I would do is remove the table and saddle, give everything a good clean, check the feed screws, nuts and brackets.The feed nuts are easy to replace.
One good thing is every part is available for these from High Quality Tools (Tamp, Miami as well as Cleveland, OH) as well as H&W Machine (Fort Wayne, IN).
The only thing I know about differences is the Series 2 is quite a bit larger and heavier than a Series 1. The fact that this is a dovetail and not a round ram is a big bonus.
BTW, my personal advice - DO NOT WAIT TO CONTACT THE SELLER. Take the day off if you have to to be first in line to see it and try to make a deal, if it's what you want. If you wait, it's not going to be for sale for very long. Take some cash to offer a deposit if you don't want to carry that much cash around.