What sort of Paterson enlarger is it? The only Paterson enlargers I'm aware of are the PCS series (PCS2000 and PCS2500), which are identical to the Philips PCS series (PCS2000 and PCS130). I wouldn't describe these as "crap," unless of course yours has simply seen better days. This series definitely takes standard M39 enlarger lenses. FWIW, there's a
Yahoo! group devoted to these enlargers, with manuals in the files section. I've also got a scan of another manual for them that's not on the Yahoo! group; tell me if you're interested in seeing it.
FWIW, my Philips PCS130 came with a Nikon El Nikkor 50mm f/4 that's not too great. This is a 4-element lens; the f/2.8 is a 6-element lens that's much better. I'm currently using my Philips with a Russian Industar-96U f/3.5. I don't know how this lens would compare to the likes of an El Nikkor f/2.8, Rodenstock Rodagon f/2.8, or a Schneider Componon f/2.8, but the Industar is
much better than the El Nikkor f/4.