Framebuilders - How suitable would this welding equipment be?

Hi everyone. I am new to most aspects of metalwork, certainly I am a novice when it comes to any kind of welding. I am building a trailer, and am likely to build more trailers (and modified frames) in the near future. As such, I've had a look at buying my own welding equipment. Today I chanced upon an item in a shop, sitting on a high shelf in a dusty box - it looked like it had been there a long, long time. The price was only £49.99 (GBP), and the info I was read from the top of the box included:

240V/230V
40A
max 140A output

The brand is Draper.

On the side of the box were sketches of different applications, and one was a man applying a weld to a bicycle - so at least the manufacturer had that in mind.

Here's a picture of the box:

http://www.bikeforums.net/attachment.php?attachmentid=108312&stc=1&d=1245261025

Any input would be much appreciated. This is really cheap, half the price of any other (more modern) arc welders. This, I presume, is indeed an arc welder itself. I read a thread just now about that, and it's suitability, or otherwise, for framebuilding - but from what I gathered it should be sufficient for me.

Thanks

You probably need to do a little more research and familiarize yourself with the types of welding and brazing processes used in bicycle frame building.

It isn't impossible to weld bike frames with what you have found, it is a stick welder. Look at the recent threads that go into the pros and cons of stick welding bikes. While it can be a fun exercise, it is neither the easiest nor the typical way it is done. The results will at best be a compromise.

A general rule in welding is that in the right hands almost anything can do a good job at anything. All you need it for the war department to tell you that the shipyards will get all of X gas, or whatever, and the unsuitable becomes the norm out of the blue.

don't waste your time or money.
TP

I would support that perception if it is AC only. DC only, or DC/AC stick welders can be very useful for a lot of things. For bikes they can be fine for the low end bikes made out of normal steel tube, challenging if you want to use 4130, and pointless for high end specialty tubes. Can't really tell whether the OP is messing with low end bikes, low riders, chopper bikes, or lightweight tubes.