What's a good price for a Shopsmith ER?

I’ve searched the web, ebay and LJs and there seems to be a very wide range in pricing for Shopsmith ERs. Some of you lucky guys even found them for free!

There is an E advertised locally on craigslist for $250. From the photo, it definitely isn’t mint, but it looks like it wouldn’t require an immediate restoration. Is this a reasonable price?

I’m not familar with these machines and would use it primarily as a dedicated drill press. The cast iron construction and two post design make me think it’s a better foundation than any new machine I’d get for a similar price.

So, should I consider one at this price?

Lastly, if I do go look at it, are they any common problems I should look for with these things?

Thanks,
Scott