Personally I think you're going to find a 16" machine is a bit large for most work. They do come in handy on a rare occasion, but they are also clumsy for 90%+ of the work. I used 16" LeBlond machine on and off for years at work, however most work was done on the 13" one sitting next to it. Keep in mind that larger machines generally turn slower than the smaller ones. It's not often you want a 16" diameter hunk of steel turning at 2,000+ rpm.
I would look for something in the 13" range. There are a lot of good machines in that category, and they're less expensive to purchase, tool up and maintain. You might want to add Sheldon to your list The R series machines (in my opinion) are every bit as capable as any top end LeBlond or Monarch.
Personally I have a Sheldon MW-56-P and have been more than satisfied with it. I found it in Chicago through a member on another board. The machine itself was completely rebuilt, including grinding the bed and cross slide. I did put about $200.00 into it after I had it about a year to rebuild the unique drive system. The drive is a Worthington AllSpeed which is similar to a reeves drive. The speed changes are accomplished by a fast and slow button (2 lower buttons on the control station) that control a gear motor that opens and closes the variable sheaves. Speeds can be changed on the fly with a mere push of a button.
The price was right and the quality of the machine is excellent. I have less than $3,000.00 into in including the drive upgrade and tooling. It came with 2, 3 jaw chucks, a 4 jaw chuck, a 5C collet system, a BXA quick change tool post, a steady rest, a follow rest, a face plate, a couple live centers, a couple drill chucks, and other assorted goodies.
Here's a picture of it as it sits in my shop today: