I had one for a while and they have a lot of potential. Certainly a step-up from the Pro-ject if in decent fettle.
Rather than being belt driven it is an idler wheel deck, the most common issue with these being the amount of wear on the idler wheel itself. IIRC it is perfectly possible to source replacements for the idler wheel and this is probably a good idea if you wish to use the deck over alonger period.
The standard fit arm is rubbish and the rest of the deck deserves much better. The old Decca/London arms are reputed to work extremely well if you can be patient and wait for one to come up.
The other area that gives big room for tweaking is the base. Most Lencos were built into pretty poor bases and the deck responds very well to some decent set-up and being put into a really solid base.
Worth a good look at the Lenco Heaven website for further information.