Well, for perspective, this mower weighs 1700 lbs.
One thing that is a slight issue is the amount of garage space it would take up. It's extremely heavy duty, and I did get to see it run, cut, etc., and got a test drive. The deck on this puppy is as thick as the frame rails on the typical lawn tractor, including Deeres. Just looking at it you can see that it will still be around for many more years. And judging from things like pedal pad wear, tire wear, and general condition, I can believe 1200 hours. The seller is a local farmer, original owner, and only used it on his 5 acres or so of mowed yard. Actually the seller is his son - the owner recently passed.
Checking around on the net, I see several with 3000+ hours for sale for well over $2000, some as high as $5k (but they're really pretty).
I'm mostly concerned whether this particular model is known for any problems.
ETA: Here's a pic of an identical mower (except this one's a 1987) that is on the net for $4700 (definately way high). They sold new for around $10k, and the current similar model is wayyyy higher. The one I'm looking at is in similar condition, except some slight paint fading and the seat is in bad shape. Note how much taller it is than the lawn tractor it's next to.