IR3220 is junk. Try to get some help from local tech, Quality and performance is much better than 3220.
Try using X12 PS driver for Cobra Fiery, you will get better quality, if not same features of X12.
Error 3-340 can be an ESS or IIT/ IPS board problem if you say they're selling it cheap. It looks like the seller doesn't want to spend money on it knowing that the error code must have been attempted by a technician with software reload and some basic troubleshooting but with no success. I still wouldn't risk it as this machines are costly to maintain if you're not on contract with FX