I would keep it, if you ever have occasion to make things. Power hacksaws are still one of the best ways to make an accurate, clean cut in a piece of metal, their only real disadvantage is they are slow. Everyone is in a hurry these days, so the chop saw wins...
Allthough not initially obvious, you can also cut angles with a power hacksaw, and it's quite a bit safer than doing it with a chop saw, which tends to cause blade explosions when cutting acute angles due to the ease with which the work gets jammed into the blade area....
It will also make better cuts than a bandsaw, unless you have a very expensive bandsaw..
Don't make the mistake of putting a high speed motor on it, they were designed for induction motors with relatively slow shaft speeds....(if you run it too fast, it will eat blades like candy, and the bearings will wear out)
They are also great fun to watch, the operating principal is instantly obvious to anyone watching it work...
