looking for some info
#2
Sorry to be the one to break it to you and your friend..... AHM ain't Lionel.

HO stuff isn't really collectible, since most modellers have more sense than the toy train crowd, and recognize that just because it's old doesn't mean it's instantly a valuable collectible.

Your friends' set is of a slightly-better quality than Tyco and Bachmann. You might get $20-30 for it. Check completed listings on E-Bay... you'll see that the AHM sets usually either get no bids (because the original seller put an overly-optimistic price on it) or it sells for $10 - $15.
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