+1 on the Dorian tool holder. Love it. It is the expanding wedged dovetail type. I also like the Eagle knurling tool because it creates pressure between opposing jaws rather than bearing on the spindle from one side.
Chinese lathes are OK if you know their limitations. I got a 13x40 through Enco about 10 years ago. None of the used gear I could get at the time didn't need refiguring, so I concluded a cheap lathe that I could tweak myself would save me time. I used to repair machine tools with another fellow when engineering work was slow, so I had precision levels and a few other tools to help the situation along. I chose the lathe I did because it was the least expensive lathe with a large enough spindle to let me do through-spindle chambering and which had a bed long enough to contour a barrel between centers.
Several items were out of whack at the git go. This lathe is a gap bed lathe and the gap was improperly seated. That just required pulling, cleaning and re-seating and tightening the bolts to correct. The cross slide on the saddle had no stop, and could crash the DRO scale, so I had to add a stop. The saddle gear sump leaked so fast it wouldn't hold oil for a day, so I had to tear that down and add Form-a-gasket to it. The sight glass for spindle oil leaked and had to be sealed with gap-filling super glue. One of the four head alignment screws had stripped threads, so I had to install a Helicoil to repair it. The head needed alignment to improve perpendicularity to the bed. The stand that came with the lathe was so flimsy you could see the whole lathe torque it when the motor started. I wound up building a weld-up frame from 1/4"×2"×2" steel tubing to get that vibration out. I built the frame inside the cabinet, and that gave me the opportunity to add leveling feet, anyway. That, in turn, let me use my super sensitive machine levels to get the bed completely free of twist. Since this was probably not a fully seasoned casting, the leveling feet will allow me to compensate for future stress relief twisting. The motor was, though an American made brand, poorly balanced and its vibration showed up on the work at some spindle speeds as tiny chatter marks. I wound up replacing the motor with a Baldor. I also replaced the motor drive belt with a polyurethane link belt that doesn't transmit vibration well. I've had one electrical failure in the form of the power light. I fixed that.
All in all, a lot of work and tweaking, but most of the setup work would have to have been done with any machine. I didn't have to do any scraping or other figuring. The new spindle was good and runs true. The 6" 3 jaw chuck that came with it had a TIR of 0.0005" for 1" rod, but the scroll doesn't track perfectly, and it is out by up to 0.003" at some diameters. No problem with parallelism of the chuck jaws, though. The D-4 camlock spindle nose seems to be properly made.