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Like New (less than 300 hours.). This analyzer came to us loaded with 12 firmware options and 4 hardware options – including Phase Noise, Noise Figure, Power Meter, External Tracking Generator (see details) – Has Network Analyzer features! Extensively tested using a calibrated Anritsu/Wiltron 40GHz signal generator, and it is spot on for both frequency accuracy as well as power levels. Passes “Cal Total” and passes all tests. Can use an external signal generator as Tracking Generator Source for Network Analysis (see pics) – Later model, running Windows XP. Upgraded to the latest firmware. Low hours – 30 day Warranty