Tom,
Does it come with a gas bottle and regulator? If not, add those into your cost, as you will need them to make decent welds with it.
You can weld without gas with flux core wire, but you get lots of spatter and an ugly dirtier weld.
I assume you want to do bodywork on an old truck? With the gas, I would think that welder should do fine.
Do a little research before you bid. I just bought a brand new Hobart Handler 187 from Northern Tool for $650 with a 3 year warranty. It will weld to 185 amps and has 7 power settings, infinite wire speed. It came with a gas regulator and I simply had to buy a couple of spools of solid wire and a tank of mix gas. It welds very nicely and I think the price was very good for something that will meet probably just about all of the average guy's welding needs. It will weld 24 ga sheet to 5/16" in a single pass. That takes care of a lot of things.
I'm not trying to sell you on something else-- Lincoln makes quality products, so unless something is wrong with that one, it should do fine. I am just trying to give you an idea of what price a probably slightly better welder goes for new.
Also, I have gotten a lot of expert advice from the forum at
http://www.hobartwelders.com/mboard/ They are partial to the hobart/miller family of welders, but they know about all kinds. Based on their advice when I bought my TIG welder it was not a hobart or miller. Somebody there would know about that model Lincoln. The only Lincoln I know anything about is their PT-185 TIG machine.
Here is Lincoln's info on the weld-pak 155:
http://www.mylincolnelectric.com/Catalog/equipmentdatasheet.asp?p=7103 I hope this helps a little.
