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Hi, not sure what is the best bang for the buck, but I think if you want a lathe pick up a lathe only if you need a mill pick up a separate machine. The height of spindle from the bed makes me think that it will not be very rigid, and the tool will chatter a lot. Possibly work for what you are trying to do if you are taking micro cuts.
Small lathes are handy to have around though, finally getting mine re-powered after 4 years.
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