MattF
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Have to add, your things you want it for can be mostly accomplished on a smaller lathe with a bit of cunning and patience.
Indeed. I've always said the same. It can be a frustrating experience on occasion, but if a lathe is physically capable of working on the piece required, it's doable every time. You simply have to know and accept the limitations of a machine and work within and around them.
...If I'd listened to all the sensible peoples advice...
I can see the point from both sides on the general subject. When time is money, something being in working condition and being able to do the job straight away is by far the most important aspect. However, that's not what most of us are like in nature. Most of us on here are here because we have an inate urge to make things work, repair things, do the impossible etc. Hell, look at any of the lumps of rust and abuse which I'm usually restoring at any given moment in time, to get them back into good working order, as a prime example. Business is business, but nature is nature, and unless I need something there and then and utterly dependabe from the get go, I'll go for the herculean restore on an antique every time.
Plus, the other aspect which is commonly overlooked is available space. We all bitch about space, but some are far luckier than others on what space they have available. Sometimes large just isn't an option for some, whereas others could drop a house in their workshop and still have space spare.