Hey R2R4U (BTW we use our real names on this forum,.. you can add that to your signature in the user control panel),
Regarding the 3340s, it was all the rage when they came out. Overdubbing on it spawned the home studios all over the world.
As a playback machine, they don't really measure up to the Otari's and many other 2 track machines and unless you plan to use it for what it was designed for, you'd be much better off with a number of machines.
The prices on reel to reels in general are crazy cheap but almost all of them will need some TLC to get them running correctly even if they were in perfect shape when they were put in storage 15-30 years ago.
So I say, get a machine that's worth the hassle.
You might tell us what you're looking to do with a reel to reel and your price range.