TTo the best of knowlege, the 80-8 is 1/2" 8 track. I had one and like a dumb ass traded it for,, {I wont even say what}.
Yes, if it's in good shape, $300.00 is a great deal.
There's a ATR-60 1/2" 8 for sale on e-bay right now that is a GREAT machine for the money.