If the stuff is in good condition then it is a good deal (especially for you poor Brits who pay some of the highest prices going). Pressure gauges are cheap and easy to replace, and usually become unstuck with a few taps on their housing. The reg & the diffuser together usually run about $150 to $170 US so $60 US is pretty reasonable. I'm sure your friend will help you hook it up and thus confirm the reg is working? Remember to be careful turning the gas on to a reg, the safest way is to ensure the pressure valve handle has been turned all the way out until it has disengaged itself from the interior diaphragm (IE: it is turning freely and the output pressure would be NIL) otherwise when you turn on the gas at the tank you can damage the reg's internal mechanisms.