Unless money is no object, wait until you find that really great deal on either, then jump on it. Make searching the Penny Saver, want ad's, Craigs List, even local ebay, say a 100 mile radius, a frequent quest. More than any other thing, that will build up your shop in the shortest time and if you are discriminating, with a much better class of machines.
Oh brother I did not get that into it. I used a 4in long 3/8 rod I had and ran it just like it was hanging out the chuck. I honesty done it so I was not just talking out the side of my neck. Up untill then all I had was second hand info. So I tried it.
I would also say that when I say "turned" I mean just that. I simply faced it off and took .25 off. And it cut like butter. I would think a follow rest is best you could hope for doing what I just done.
I read all of this in bewilderment. You have so many toys to choose from in the market place that you can’t make up your minds. The 18[SUP]th[/SUP] century watch/clock maker with his humble assortment of tools could make us look like we were stick drawers in kindergarten class. And we would have 200 years of mechanized evolution on him. I quess that advantage ain’t worth squat. Yah, I know we landed on the moon. I'm more focus on the solo home shop machinist that has evolved or maybe brainwashed into thinking they HAVE TO HAVE a DRO for their mill, keyless chucks, magnet chip picker upper, new table saw fence (worthless!), ENCO promo codes…And China ain’t gonna complain about it either, just me. That keyer could be made with stock bought materials and made with a hacksaw, egg beater, file and small assortment of other hand tools. You don’t need a lathe and or mill to do it. And I bet you that 18[SUP]th[/SUP] century fellow with humble tools would win the prize with his keyer example! He had talent, today we have wallets with varying amounts of plastic money inside and little or no self-discipline on buying that new toy for the shop, especially with Father’s day as the best excuse of all...Happy Father's Day!
Ok. I just found an HF 7x10 lathe on Craigslist with a bunch of tools, a nice tool chest and stand. He wanted $400 and said he'll take $300 so I said I'll take it. It's not ideal, but I think it will be a good start and I can always sell it down the road if I want to get something bigger. I'll get a milling attachment for it and that should keep me going for a while.
Here's the link: http://albany.craigslist.org/tls/4512777347.html
Steve