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Auxiliary transmissions aren't all that rare, but some types are. A true 2 speed auxiliary is in direct drive in one position, so it's either direct - high, or direct - low. If the lever is on the left side when you're seated on the tractor, and is shaped sorta like the mark of Zoro, you might have a true high - direct - low, with 12 forward and 3 reverse speeds. Shift pattern for those is low forward, high back. In the middle is neutral. Yank the lever sideways out of the tractor about 3/4" and pull it back again for direct. If you want to visualize it like a cars transmission; 3=low, 4=high, 2=direct. The pto jumping out is a pretty good indicator of either a twisted shaft or a worn dog clutch. It's not expensive to repair. I think the entire shaft assembly costs about $125, with the dog clutch being about $30. Cheap to fix and not hard to do. The starter kicking out prematurely is an inherent design characteristic of this type of starter. There's nothing wrong with it. It is annoying, but they truly are designed that way. On the plus side, you'll never have one of these starters stick engaged and either explode when the engine revs (exciting), or grind through the ring gear. What are they worth? A couple of thousand dollars. $2-5k pretty much covers the range. Some geographic areas run them higher then others.
Very roughly from your description, this one is probably in the $2500 to $4000 range. That's tractor alone, not the impliments. If the tractor strikes your fancy, or has sentimental value, go ahead and get it. These machines are collector items, so re-selling it isn't a problem. If you're looking at it as a work tractor, give it some much harder thought. The "ratcheting pto" is simply an over runing clutch. It's one of the reasons to give it some hard thought if you're thinking about working this tractor. The pto spins from the transmission, which gives a relationship to the drive wheels. Without a "ratcheting pto", something like a brush hog can run you right off an embankment. Replacement tach is only $60. Brakes are easily fixed, usually with nothing more then a cleaning and adjustment. Oil burning can be an expensive fix, but these machines run along for decades burning a bit of oil.
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