Kinda hard to find info on it, but a tool grinder is a very handy machine to have if you do a lot of machining. To be able to sharpen and configure end mills, boring bars, drill bits and even lathe bits has been a boon to me. Made my own counter bore out of spare bits. Revive old end mills. Even ground some dog point screws for my lathe cross slide. It has not become something I do everyday but I can’t tell you how many times I’ve been in the middle of a project and had a dull bit and was able to sharpen it and move on.
unfortunately, the CL specimen you posted is missing a lot of key parts and is not made anymore and not common or popular. The most concerning is the drive gear for the table. Without that it’s truly a boat anchor. Who knows if that’s a common gear or some proprietary odd ball. The other things missing are the grinding fixture heads. Those can be proprietary and expensive. So while it’s free, it could cost a lot to get going and who knows what else is wrong with it. Interesting machine though and being the junkyard dog I am I’d be tempted to look at it just to get a good look.