Your probably right, unless it's already worn-out or otherwise f'd up. There was a Jet 1236 on CL a while back and the guy was only asking $850 for it. It had been re-listed several times, so out of curiosity, I went to take a look.
It had seen some use but didn't look too bad at first. The ways were clean, and there wasn't much slop in the dials. The lead screw didn't look too worn, and a quick and dirty check of the test showed less .0015" TIR off the chuck.
At this point I was wondering why the lathe hadn't sold yet, then I pulled out a small level to check the bed. Everything was nice and level until about the last foot or so on the tailstock side, and it was pretty bad.
That was when the guy came clean and said the lathe had been dropped during a move. He tried convince it was still a good lathe ...just not good for stuff over 20" or so in length.
I pondered that for a second before I told him I make and work on Pool cues. He then gave me a blank stare and asked why I'm not just looking for a nice wood lathe