I've been using one for 20 years and it's an excellent enlarger. As was pointed out, any timer will work. If you plan to use it for any length of time, go to an electrical supply outlet and see if they can order bulbs for you - there were two different styles, depending on the specific enlarger. Hove still publishes a book, something like Leitz (or Leica) Darkroom Practice, that specifically deals with this enlarger.
It is a workhorse, although the autofocus is a bit fiddly. It should have come with a 40 mm Focotar lens; the autofocus is set for this lens. I don't know if it will work with a 50.
The only problem I have had with mine is one of the masking blades broke after 15 or so years and I haven't been able to find someone to fix it.