P&W made top shelf machine tools on par with the Pacemaker. Assuming it is in good or better condition it would be an awesome addition to ones shop.
As far as trading it to a MT dealer, I doubt if you'll get much more than scrap value. They'll see it as an old manual machine and not worth their time. You'd be better off listing it on Craigs List, SleezeBay, or even (cough gag) PM.
What kind/size/condition of lathe do you currently own? If this would be a step up, get it going and sell/trade your lathe for a mill.
Making 3 phase power is not a big deal, but instead of a traditional RPC with a pony/starter motor check into a Phase-A-Matic unit available on EBay. I use one to run my Logan and found the builder/seller to be very easy to work with and quite helpful.
"I have come to a resolution myself as I hope every good citizen will, never again to purchase any article of foreign manufacture which can be had of American make, be the difference of price what it may."
Thomas Jefferson 1815