I saw one go out of a garage sale here in NJ for $60, a few months ago. Had the chuck, lantern toolpost, a couple of cutters, a woodturning tool rest, and (I think) a faceplate. May have had a couple of centers too. It was mounted to a homemade stand with the motor hanging off the back, with a neat homemade idler arrangement to disengage without turning the power off -- oh, and it had a reverser too.
Biggest problem, as several other posters have pointed out, is that it's a very small, light lathe. The spindle is only about 1/2" diameter, and it's bored out, thus reducing the mass. The tailstock center is MT 1.
I had one of these at one time, and the spindle was bent -- which was why the previous owner gave it to me. He tried to take too heavy a cut, and the workpiece rode up over the cutter, twisting the spindle. Sears didn't have the part (this btw was about 40 years ago), but they did send me an engineering drawing for the spindle, so I'd have been able to make one, IF I'd had access to another lathe. (Sorry, I lost the drawing years ago.)
If you mean "$450" and not "four dollars and a half", I'd say you can do a lot better. But if you DO get it, beware of over-powering it. Anything more than about a 1/4 or 1/3 hp motor is apt to be too much. And SOME lathe is better than NO lathe.