Lot of great comments here.
One note..................
bmaverick is slightly wrong. Grizzly machine tools are entirely made in China. There are no, IIRC, USA made manual lathes available today..with the exception of used ones.
None of the Chinese lathes are ready to run out of the box. I've read a ton of stories about work that needed to be done on them. Foremost is cleaning the sump in the headstock.
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Mine was no different than a host of others. On top of which........the spindle bearings had been installed/adjusted improperly..........and had to be replaced. The vendor covered the cost of the parts. P5 bearings aren't cheap. After the work I put in, it's been a very good lathe. I'd expect no different from any of the different brands........they're all basically the same machine with different nameplates. Always keep this in mind. "Brand names" mean nothing.
The one thing that bothers me, is the cost of entry. When I bought mine, it was around $3500..................the same thing is $7000 these days. The quality has NOT improved. I honestly don't know how younger guys get into the metalworking thing.......It's Un Godly expensive nowdays.
My little 13x40 has paid for itself many of times over. It would take a lot more work to justify the same lathe at today's prices.....but it is what it is I guess.
I've worked on other lathes that will get you within about 2-3thou over a foot........which ain't so hot. It's doable, but a PITA. This is what you can face when buying used, plus a host of other issues. Grinding, and scraping ways can be miserable, and costly. Same with restoring the ways on a carriage. You can exceed the cost of a new lathe.
I just dunno...........I got into it when prices were affordable. Including tooling. Tooling is going through the roof. Then you have to buy your steel.....guaranteed sticker shock. Some of the stock I buy is sold by the INCH.
I think you're embarking on a very satisfying journey, but it's gonna be expensive. At least at my income level, it's expensive.