I would agree with Eddyde that if you're just getting into the hobby a surface grinder should be low on the list of things to purchase. While they do come in handy from time to time, they are one of the lesser used machines in the shop. Over the years I've found it's far more cost effective to invest in higher use machines. The 3 most used machines in almost any shop are the horizontal bandsaw, vertical mill, and lathe. Next in line are the belt sanders, grinders, and drill presses. Further down on the list are the contour bandsaws, horizontal milling machines, and drill sharpeners. The lowest on the list are the shapers, surface grinders, and power hacksaws.
I purchased a surface grinder when I had a number of close tolerance jobs that couldn't be done on anything other than a grinder. I considered sending them out to a specialty shop, but the cost to have the job done was more than the cost of the grinder. I've used the machine sevral times since then, but it's still one of the least used machines in the shop.
Often times depending on the size of work you do, and the depth of your pocketbook, a power hacksaw or cold saw can replace the horizontal bandsaw. Keep in mind tooling for the mill and lathe will most likely be at least as expensive as the machines themselves. Often times the cost of tooling is more than the initial cost of the machines. I always keep my eyes open for machines on my "wish" list. If one happens to become available at the right price in good condition, I will certainly take a look at it. However, I won't pay a premium price for a machine that will see limited use.
As time goes on the "wish list" gets shorter, but the machines get larger. Like most shops space becomes more and more limited. Currently the wish list includes a radial drill and a jig bore machine. The likelihood of finding either in the price range and condition I would like is minimal at best.
I'd like to find a radial drill like this. As you can see it won't easily fit in a tight space. It takes up about 22 sq ft of floor space and weighs 18,000 lbs.
Power Rapid Traverse To Head. Power Column Clamping. Face of Column to Spindle, Minimum 14". Motor, Horsepower 15 HP. Vertical Arm Travel on Column 39.5". Drills to Center of Circle on Base 120". (4) Tapping Leads, Range 8 to 18 TPI.
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The jig bore is close to the same size, but weighs in at only 4,700 lbs.
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While these machines would be "nice to have" to me they're in almost the same category as the surface grinder. They would be used from time to time, but hardly enough to justify the cost and space they would take up.