Is it worth saving?

If the photos are not misleading (sometimes they are) and the rust is really as bad as the photos suggest, I would say that lathe is beyond restoration.
That ain't even close to being beyond restoration! Ive seen much much worse turned into a machine that looks fresh off the assembly line!
 
You can do it. Make a silk purse out of a sows ear. From rust to like new it's done all the time . You've got a big jump on most , all the parts.
 
The fact that it was your Dad's lathe and not used for over 55years makes me wonder if he was happy with it and whether he would wish it on you. The stuff I want to leave to my son is kept good condition ready to go. However it is perfectly OK if he does not want it for whatever reason.
I understand the sentiments you might have. I kept some stuff from my Dad's shop, not all for my own use but solely to offer to my son should he want it. But there is nothing there as bulky as that metal lathe.
In my Dad's heart I believe that your father would rather see you enjoy more modern equipment.
Great point. In the grand scheme of things my dad didn't have any sentimental attachment to my Clausing 5418. He tossed out all of his old toys as a kid before I came on the scene. He figured I wouldn't want to play with his old junk. Maybe I'll start calling on the Clausing's that show up . . .

Bruce
 
The probable date of manufacture is first quarter 1951.

Whether his father was happy with it of not doesn't really matter. The best bet is that he lost all interest in machining and didn't bother with how it was stored. Otherwise it would have at least been under probably canvas cover. However, it is a 10F regardless of why it ended up in the condition that it is in. So only a few owners of machine brands that I won't name would claim that because it's an Atlas it isn't worth recovering regardless of what actual condition it turns out to be in. That's just standard sour grapes and should be ignored. But it is definitely worth finding out whether it can be salvaged or not, whether by the current owner or by someone else.
 
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