Damn I should have looked in on this thread earlier. I have a Sterling Mig161, large gas bottle, wire, stainless wire, regulator and gas hose. You wouldnt have got it for that price though
Right, the one you have bought, the torches on these things are .... well crap! I have had a couple of them in at work to repair and the ones I have seen have had plastic liners in them which wear very quickly. If you can change this for a metal liner then I would do that. Inside the machine you will find a spindle that the reel of wire sits on, make sure this is not damaged or hanging off. Have a look at the drive rollers and mechanism. There shouldnt be too much play in them and shouldnt really have much wear unless it has been used a hell of a lot.
I'm not sure what the duty cycle of this machine is so dont know much you get out of it.