Installing, setting-up & operating a lathe is quite an undertaking - def. not to be taken lightly.
With regards to the lathe @ FJ - Sean Davies is without a doubt an authority on installing/setting-up lathes - and it's reassuring that the lathe in FJ has been 'restored' etc. by him (check if it has Sean Davies limiters as well - a bonus if it does!)
There are certainly a few VMS70s about - I think Transco keep an informal 'for sale' list - worth contacting them. However if your mate's main operation is going to be mastering (no 'acetates' 'dubplates' etc.) - then maybe a VMS80 would be a better investment. Make sure the lathe comes with all the necessary heads, amps, transfer eqpt. - eqs, limiter, pitch computer, etc. etc. etc. (oh - and a spare cutter head if possible!!