Congratulations. Yes, that's the very definition of a budget tractor....but a decent one for the money and they can be fixed up indefinitely for little cash outlay and parts are surprisingly available. Plus there are a lot of active 8N owners to share with. They are even 8N collectors and used to be 8N tractor groups...maybe still are. You've probably already found the vintage Ford group on TBN:
https://www.tractorbynet.com/forums/ford-vintage-tractors/
Around here, and in really good condition, that 8N plus jungle gym Wagner Loader combo would probably bring $4500. Whether it is worth that much is questionable, but they bring it.
In the condition you describe & needing tires, the price you paid is about right. Old tires do last quite well even when split and ugly. As you already know, the biggie is power steering. Add that and life becomes much easier. The need for PS is increased because that Wagner was heavy and in all the wrong places. The trick without power steering is to put the bucket down, turn the steering wheel to aim, pick up the bucket, and proceed.... Sounds worse than it is. And it still beats doing by hand. Power steering and accessory hydraulics are actually easy to add to the 8N, but few people do. And it is the lack of power steering more than anything else that makes people who start with older tractors decide eventually to get a more modern one. Well, PS and the overall balance. The 8N is much heavier on the front end even before the Wagner FEL was added. Modern tractors have more weight over the rear to start, and a lighter weight loader mounted to a subframe to distribute the stress. All those things worth thinking about so you don't overload the 8N.
Just take it easy on the 8N and it will work for you forever. Especially on flat sandy ground. The narrow bucket is about all it should be allowed to handle. They are too front heavy already. Don't want to break things.
BTW, most 8Ns can use a rebuild of the steering components all the way through - from tires to steering wheel. Easy, inexpensive and will help a lot. Some people add an accessory hydraulic pump to speed things up. I like the ones that run off the front of the engine pulley. And it is surprising how many 8ns need the electrics cleaned up. Such a simple job but rarely done.. Like the brakes - simple but rarely done.
Anyway, enjoy your tractor. Massey, and JD from the same era are even more capable....but nothing is as cute as a Ford 8N.
Oh,.... Implements are cheap and old ones easily borrowed to try out. Box blades especially; $100 will generally buy one. You want about a 5 or 6 footer depending on weight..... and you do need some weight on the back. Imlements last forever in the dry Western air. Every old tractor guy has a yard full.
It took me way too many years to finally find the right implement to complement our old JD tractor.
I wish I'd known then what I know now....about implements anyway....
You'll learn about them too.
rScotty