[Crex]

Well, since you already bought it, try it out. Pics are a bit small to see much, but the presser foot assembly looks a bit undergunned for a lot of leather work. May work out for you just fine, sure hope so.

I'm thinking it's going to be a bit like using a Cub Cadet to work a 1000 acre farm. Don't run it too hard until you get totally familiar and confident with it.
According to what I've been able to find it will use Singer needles just fine, but as Paul stated #69 thread looks to be it's top end. Can't really tell from here, hope you can acquire a good manual to go with it. They help a lot.

Side: Hey Paul, got to spend a little time with Dad (Sandy) last weekend. He lives just over the ridge from where I hold my Hammer-ins and always manages to come over and hang out. He's still getting out and chasing. Hope I'm still around and as active when I grow up!