Before buying any used AVA gear, I'd call Frank and see if the serial number checks out. I bought my 440HC used direct from a guy on Audiogon; I called up the seller, got the serial, called up Frank, made sure it checked out. Some years later, I got it upgraded to the (last generation) OmegaStar EX HC. So yeah--you can upgrade it, if it can indeed be upgraded.
I've also bought used directly from Frank.
Finally--there has been some AVA gear that's been misrepresented both on Ebay and Audiogon, so I'd really recommend double checking w/ the mothership on the serial before purchasing.