Revamp old serger (White Super Lock 216) or buy a new one?

I have never used a serger before, but have inherited a White Super Lock 216, manufactured in 1988, from my late mom.  I know it worked when she gave it to me, however I have since lost the electrical cord, presser foot, directions, etc.  The only thing I have is the machine.  It seems like it would be fairly easy to operate, considering it only has three threads.  The people at the White Company suggested I upgrade to a new machine since some parts are no longer made and the price for presser foot and electrical cord would be $95.00.  However, the repair man at our local Pfaff  dealer said it would be worth revamping.  I am torn.  Should I put the money in the old White or purchase a new machine? I'd love your advice. Thanks.

Unless you really, really, really think you'll be using a serger, then why throw good money after bad? Keep in mind that you don't really need one.

 I use a serger for seam finishing.  I also love the rolled edge hems on a serger, but a sewing machine will do that too.

But sergers [unless they are self-threading] are really a pain to thread; not difficult, but tedious.  And getting the thread tension right is an art.  Every serger is different and every project requires something else.  There's a lot of trial and error involved. You have to keep meticulous records of various tensions settings and needles needed for different fabrics etc. 

Without a manual at your side to figure out how your particular model works, tension adjustments and threading will be very, very difficult. 

You can always find parts somewhere, as your Pfaff dealer attests.  Listen to him/her.  If I were you, I'd revamp the one you have. 

I have a different experience.  I had a White speedylock for about four years.  In the time that I had it I only used it a handful of times because it was a total pain to thread,  it was very difficult to get the tension right and it going from an overlock stitch to a rolled hem and back took forever and involved re-threading and changing parts on the machine.  I actually grew up learning to sew on a serger alongside a regular machine, so I knew the potential for serger sewing and was sad and frustrated that I couldn't use my serger like I wanted.  A year ago I upgraded to the very entry level Viking serger.  It is not self threading but the loopers are designed for easy threading.  It takes me about 2 minutes to thread it.  Going from a 3 thread overlock to a rolled hem is as easy as shortening the stitch length, pulling a lever to change the stitch finger, and adjusting the tension.  It takes 20 seconds.  Tension in general is also a lot easier to figure out on this machine.  The ease of use with my new serger has meant that I now do about 50% of my sewing on it.  Do you *need* a serger?  No, a sewing machine will do pretty much everything a serger can do.  Do sergers make certain tasks easier?  Definetelly!

If you decide that you want a serger I'd sell or trade in the one you inherited and put the money toward a better serger.