Lucky you Matt,
I bid on this too, with kind of the same idea in mind (portraiture). But I didn't really didn't need it, so only put in a low ball bid. Also the minimum aperture of f44 kind of put me off (for landscape use). I'd love to know how it turns out. And is f44 in fact the min. aperture?
Circa 1920's vintage, dagor type, should be good for portraiture wide open, with buckets of coverage stopped down (16x20, maybe even 20x24). And like Uhner said, convertible, to an approx 28 1/2" f15.4 when using a single cell, if your camera extends that far.
I'm starting to wish I'd put in a higher bid! Good luck with it, and let us know how it goes.