Great find indeed...
That was definitely a lucky find. I don't often see deals like that around here, although I did score an Electrolux Diamond Jubilee with a PN5 power nozzle at a thrift shop about three years ago for $10. I was looking over my shoulder on my way out the door because I felt like I'd stolen it.
The 1205 is a very solid machine and you absolutely stole it for $8. I have two of them and they're my favorite Electrolux canisters. Mine are both earlier models, about 50 years old, and still running strong. The biggest thing to watch out for, IMO is how you lift it up by the top handle. ALWAYS pick it up by the short part of the handle, which runs crosswise. NEVER pick it up by the long part of the handle that runs lengthwise. This is a known weak point. The long part of the handle is barely strong enough to hold the machine's weight and it will beak with the strain of repeated lifting and replacement handles are ridiculously expensive.
From your post, I'm assuming you didn't get the full set of tools (non-powered metal wands, crevice tool, two-sided floor brush and combination dusting and upholstery brush) with it. Fortunately, those are readily available and affordable. Even though they weren't originally available for the 1205, it will take a Sidekick mini power nozzle, which is definitely a worthwhile addition and far better than any turbo brush. Bags are also dirt cheap, purchased in bulk online.
Enjoy!