Jeff, a couple of things come to mind when I read the add. First, a 1hp system isn't really that strong. It's decent for one machine at a time, as long as your piping run isn't too long from the collector. There a lot of fittings with it, so they will be worth something. I don't recall seeing whether they are plastic or metal fittings. Maybe I missed it. The metal would be worth more, at least to me.
Second thing I thought about is the difficulty of collecting dust from a lathe. There was a thread here on that topic several months ago. It was started by Mike Davis, so if you want to read what others had to say, search the archives for his threads. I think most people agreed it was one of the most difficult machines to adequately collect dust/chips from. You can do a fairly decent job of collecting fine dust when sanding on the lathe, but when it comes to chips when turning, forget it.
HTH
Bill