Quote:
Originally Posted by speedracing944
So is it better to have an old mill with worn out ways, lead screws and 3 phase power or a new hobby mill for the same price?
Speedy 
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I would opt for the "worn out" mill every time (unless it was an inoperable piece of crap that had been sitting out in the rain for 5 years).
I bought my old Bridgeport with x-axis power feed, digital readouts, collets, variable speed 1.5 hp 3 phase motor and two vises for $500.
After buying a new phase converter on E-bay for about $70, I was making chips.