As much as all of us have upgraditis, its all a matter of size and how big do you really need it to be. The cast iron base for the PM1340GT would put it at a whole new level, but then you are getting closer to the PM1440GT if buying new. The specs on the PM1440GT are impressive, and the pricing is very reasonable for what you are getting. Did you also notice that the 1440GT comes with a coolant system (if you use one) and the castings are FC-25 Meehanite Cast Iron. If I didn't already have a great lathe, this would be the one I would order today! One thing that I have to say for QMT, you have lots of choices to suit your size and budget, and it is not limited to one "house" brand. There is also no other supplier of these type of machines that I am aware of, that actually listens to their customers and makes changes to their machine/tooling (PM1340GT cast iron base, better chucks, new machines....). Not sure how Matt does it and have a life.
Going to a VFD system on these machines makes them smooth operators. I just replaced my PM1340GT motor with an inverter/vector motor with a single speed pulley, it is scary how well it performs. You can spin it to 1800RPM (120Hz) and down to 40RPM (25Hz) with out switching belts, stopping is scary fast with the new motor. I would not use 1 second braking for anything over 500 RPM, it is almost instant below that. Also worked with Firestopper putting in a 3Hp vector motor on his lathe, jaw dropping performance difference, zero fluctuation in speed no matter what you do. The difference is not subtle.
I think Matt/QMT needs to start a trade-in program, he will have us all hooked for life.
Enjoy.