Cold light can make nice smooth prints. Most people use a timer/stabilizer combo that keeps the light consistent, as the tube changes output as it warms and cools, and exposures can vary wildly. You'll get more consistent exposures from the condenser head. If you want to go down the rabbit hole, search this site for "Cold Light vs. Condenser."
Most of the neg carriers for this series can be bought used for $20 or so on eBay.
If it's in good shape, you should be able to get it for $50-75. It might be worth a bit more with some lenses and carriers. People are just giving these things away now. Make sure you do your homework so you don't pay too much. I've seen complete darkrooms (with lenses, trays, bottles, everything) go for $200 in Atlanta. If this isn't top notch, just be patient, keep and eye on CraigsList and you'll find another, or something better.