This all depends what expense you are willing to go to? You can buy, as I did, an Enco Chinese lathe, but get it with a DRO, so you have zeroable measuring on all but the cross-slide and spindle. I have rigged a dial indicator with 4” of travel to following these latter two parts as needed.
Having used it, my criticisms of the machine are that it has too much vibration to produce smooth finishes and that the dials, though in English, are in 1/8" per turn calibration, with the exception of the tailstock, which has 1/10" per revolution. There is no carriage travel limit switch or spindle brake, so crashes are a real worry and you can’t time a thread to just stop at a fixed position. Instead you have to cut them from behind and heading toward the tail end of the bed (using an inside threading tool) if you don’t want to reduce the shaft diameter for stop space at the shoulder of a barrel.
The lead screw is 0.1" per turn, thank God, so you can cut English threads accurately, but there is no 127:1 gear mixed into the change gear set, so you can't get true metric threads; only very near equivalents. I made a table of the change gear ratios and the exact feeds for metric equivalents. OK for a class B nut or other short thread length, but not for anything long.
The gear box on the saddle leaks oil heavily, so I can't keep the sump filled. To cut vibration, I balanced the motor and pulley and built a much more rigid base from 1/4" wall square tubing and added machine leveling feet. Together with a 12" millwright’s level, I have got it fairly well trued up and it will chamber barrels just fine.
The reason I got this particular lathe (13” x 40” gap bed) was it had a large enough hole through the spindle for a rifle barrel, and it has threads on the back of the spindle (for a collet drawbar) that I could hijack for a threaded spider to support through-spindle chambering. I then bought one of Greg Tannel’s (Gretan) lubricating tools for through-the-spindle chambering and a bronze carbonation pump and motor from MSC to move the lubricant; this results in very clean chamber finishes.
Were I buying over again, I might look at the lathe offerings at MSC and J&L as well. I would probably see if I could fork up the money for one with helical gears in the head to further reduce vibration. I would stick with the DRO, now being spoiled by it. I would also tend to favor Taiwanese rather than mainland made Chinese tools, as they tend to be a bit more precise. The Italians make really nice tools, but the cost is predictably greater.
I did look at used tools. The dealers want too much for old Southbend and Logan lathes whose ways are deeply grooved from years of running over toolpost grinder wheel grit without upkeep of the way wipers or proper way lubrication. I found it easier to buy an inexpensive new machine with intact figuring and count on having to modify it.
Another engineer and I used to hire out to do machine repair when engineering work was slow, so I had some background for fiddling with the thing. If you find the idea daunting, you might buy the late David Gingery’s series of books on how to make a machine shop from scratch (
http://www.lindsaybks.com/dgjp/djgbk/series/index.html ). He begins with a back yard foundry for the castings, and never looks back. One of the books is a lathe project. You can learn a lot from these books on how you might approach modifying machinery. Also, if you can find a copy, Connelly’s Machine Tool Reconditioning, is a gem. Written in 1955, all setups and techniques and tools needed to refigure basic machine tools are covered in this book. It was reprinted in 1989, and some copies might yet be found. I believe I got mine through Lindsay Publications, but I don’t see it on the website.
Nick