I've been thinking for some time about starting a hobby with CNC work, to go with my woodworking hobby. I see on my local Craigslist a Interlab Robotics Inc., Model DM2412, that the owner is asking $300 for. I've been able to find very little information about the machine and was wondering the following:

1. Is it worth the asking price? The pictures make it appear to be in a fairly good condition, and it should have everything to make it work, including software and controller box.
2. Software. From what little I was able to find, this may be DOS software. Does it work on modern operating systems? Will it work with DOSBox, or is there another open source software that might work? I don't think I can justify commercial software for a hobby.
3. How hard would it be to upgrade the system to a more a CNC mill/router rather than an engraver? I've thought about building my own CNC, and have wondered if I could use this as the basis for a home built machine.
4. How hard would it be to change from a engraver to a laser engraver?
5. Would this machine allow me to do the following:
a). Cut large Letters (I assume so).
b). Engrave into Wood Pens
c). Raised Letters on a sign?
d). Cut out pieces, similar to have a laser cutter can do on thin wood.
e). Engrave soft medals (Brass, Bronze, Aluminum, etc.)