Yep, a loom. A Glimakra Ideal, to be exact.
Speaking of assembling, it was ridiculously easy. Really. I did it with a picture off the internet and less than 30 minutes. No tools or real instructions required. Big I 'helped' of course. It is missing a couple of minor parts that I should be able to replace from the hardware store. Now we just have to untangle all the treadles and lamms and shafts and get it all hung up.
Big I's already figured out how to use the ratchet to wind the warp beam and apron and then release the pawl to let it all unroll down to the floor.