I saw this on daBay and had decided to bid - until I saw where it was going. And I thought that the starting bid of $399 or so was a bit high...
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"Great looking locos! I really wish Lionel would offer them! I wish there was more N de M everything from everybody."
Yup.
I did this Weaver FA-2 below several years ago; this is what comes of someone giving you set of "free" decals. The lettering is decal; the red and yellow are my paint, and the "black" (actually Brunswick green, which was essentially correct) is Weaver's original PRR paint job. I had to fake the red contours on the roof - had no photo of it. I've added better horns.
I also have painted/decorated an NdeM caboose and NdeM Lionel Light USRA Mountain (NdeM bought some used FEC versions); converted a neat old 2-rail NdeM boxcar to 3RO trucks, and I have one of the Lionel NdeM BLW Centipedes.
I agree - they had some neat equipment - not all second-hand, as some believe. They even had some rather small Hudsons, bought new, and a fleet of modern 4-8-4's, based on the NC&StL "Dixies", which they called "Niagras" (note spelling different from NYC "Niagara").