For me it'd depend on what their asking price is, as well as what you're expecting to do with it "accuracy" wise.
Looks like that's on the smaller side of your average surface grinder, so I probably wouldn't expect to be hogging material with it. No idea what size motor it has on it, but I'm gonna guess less than 1hp? Also looks like it has a 12" chuck, so travel is gonna be on the shorter side. For tapering tangs, that shouldn't be a problem, though if you're trying to clean up longer billets, it may be more trouble than it saves to try to grind them.
It's hard to tell from the picture what kind of condition it's actually in too. A worn out surface grinder can be next to impossible to get any kind of decent results on, as far as flatness, surface finish, etc... If you're just using it for roughing passes, this may be less of a concern, but if, for instance, it needs new spindle bearings, that can get pricey fast. All that said, if the guy only wants a couple hundred bucks for it, the chuck alone is probably worth that. If the machine turns into a dud, just part it out and scrap the rest.
Then again, it may be in decent condition, and clean up pretty well, and be a nice little machine for you.
What's he asking for it?