Oldgriz,
You know what they say about opinions...but you asked.
From personal experience and from numerous talks with our turning club members, buying a cheep new lathe will at best cause you so much frustration that you will either buy a better lathe within 6 months or give up turning all together. Your best bet is to look for a quality used lathe from someone who has upgraded, buy a smaller but higher quality unit, or save up for a good lathe. My first lathe was the Grizzly G1495. I consider it useful for small spindle work only and feel like I wasted the money it cost me. Again please keep in mind this is my opinion. Some people are so determined, they can turn wood bowls on a potter's wheel :!:
David