Another important thing to consider when buying a machine tool is that the tooling is just as or more important than the piece of equipment. It typically can cost you MUCH more than the machine itself. Chucks, both for the headstock and tailstock, collets, tool posts, tool holders, cutting bits whether high speed steel or carbide, or both, boring bars, micrometers, calipers, drills, reamers, etc. etc. If you look hard and save up your money, you will most likely run into a deal and be able to buy someone's whole setup for a very reasonable price considering and end up saving you a fortune down the road.I personally like the older equipment and see decent deals on craigslist all the time in my area.Good luck and wait for that great deal!Ted