Those old machines always need something done to them. You need to be OK with that because that is what you get for $2200. But the fact that you have a person close enough to help with it if a problem comes up is a very positive thing, as is this forum.

The machine is probably 3 phase 220V. Find out about that first. Then you will need a phase converter. Maybe he was saying it would come with one. Check on that. Of course it does not matter if you have 3 phase power at your house but that is not likely.

If it is a cat30 taper spindle you can get tool holders on Ebay really cheep.
http://cgi.ebay.com/LOT-OF-BALAS-END...QQcmdZViewItem

Cheers
Dave