I would look at an older one in good shape, unless it has been abused it will normally be a better machine that the new Chinese ones. You will be able to tell the difference when you start using it.
We had a old Lodge and Shipley that was ancient when i started working at the shop 25 yrs ago. We just took it out of service a few months ago to put a CNC mill in and it was still a good lathe. We have a Colchester that is good but I don't think it will last as long as that one did, I know it won't if we ever start cutting on it like we did on the old one.
Got a Bridgeport mill that is just youg enough to not be a belt drive and it is tighter and runs better than both the Sharp and Allient that we have bought in the last 20 yrs. maybe it is just the old toolmaker in me but I like the older ones in good shape. they are generally built heavier and the quality is better.
If you want something to do light work in and not use it alot one of the Chinese ones ewill be ok but I'm partial..
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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