With the slack geometry that bike has, I'd say it's not a 'real' track frame (i.e. meant to be ridden in a velodrome). However, things could have been different in the '50's. It may have track ends, but still that bike is unlikely to be worth anywhere near the price he's asking.

If you're looking for something to ride on the road, it would work, but still not be worth the price, especially with the components it has on it.

If you're looking for something to ride around, get one of the complete 'street-track' bikes available (from BD, or IRO) and then upgrade parts as you need them.