Yeah Senn, it's a great piece of pro gear from the 80's.
... Part of the family that produced the 234, MX-80, M-1B, MH-40, PE-40, as a integrated family of high quality rackmount mixer/recorder components. Also same vintage as 34B, 246 and 388, i.e., mid-80's, [86].
Senn, this PE-40 is a really great piece of "pro" gear, [no matter what anyone else says]. It's a relatively rare and hard-to-find piece, that only comes up 3 or 4 times a year on Ebay, as I recall.
I think it's really a swell unit, as I just purchased one for $77 + s/h. I have a couple rackmount 4-track systems I'm throwing together with the 234, MX-80, M-1B. MH-40 and PE-40.
Being a great piece of gear, I've recommeded the PE-40 repeatedly, if you've followed any of my posts. Also mentioned on my list of "SLEEPER GEAR" over at
www.gearslutz.com from about 2 weeks ago.
I do think your intentions are good and justified, this PE-40 being a great rare piece. However, at $122+, I think your bidding war got the price bumped up just a little too high. After these items close, probably at about $150, you'll then see another PE-40 eventually come along again, hopefully within the <$100 range, which would be more reasonable.