primitive in that you will have to 'build' the gear train that changes the thread pitch you are cutting, instead of just shifting the gears. (if it is like mine was). that means selecting the gears out of the set and install them according to the chart/diagram. not a big deal.
upside is, everything on it is built 'old school', strong and well made. it will do pretty much everything a new one that size will do, but it won't have power cross feed and the hole through the spindle will be kinda small for chambering rifle barrels and the like.
it is worth the $300 if it isn't trashed/rusted and if the gear sets and chucks are still there. it looks like a the three jaw chuck on it in the picture. i'd grab it for that if that was in my area.