I saw an ad for a lathe and drill press for $49 bucks each so I went to look. I found myself in an old shed behind a house that was literally falling apart. I don't think anyone had been in that shed for many years. Location, by the way, is very near the ocean in a foggy location (near SF).
The lathe was an old (30s or 40s) Sheldon with about a 1/4" thick coat of rust on the whole thing. The drill press was about same vintage Delta. Also under a coat of rust. If I had the room, it could be an interesting project, but it really looked like too much rust to consider removing. There was also an Atlas motor (1/2 hp) that turned, but also covered in a lot of rust.
I walked away with two rusty Jacobs chucks (beyond repair, I suspect) and a handful of putteys that managed to escape the rust. Nothing else worth picking up. On the other hand, if they're going to end up tossing it for trash, well...
If anyone reading this has any interest, fire me an email and I can see if it's still there.
Bruno (azbruno at yahoo etc)