OK, I read over the attachments from
extropic and Armydoc, and there's some good thinking going on. The biggest challenge I see is how to get to the bottom of the "what do you want to make" question. Six years ago I would have said "I have no idea, I'm looking for a general purpose machine to do a variety of things." Today of course, I know exactly how to answer that question, but I didn't then. If someone can clearly define what they intend to produce, then the equipment choice flows pretty easily. But in the absence of knowing the "what" it occurs to me there might be an alternative question dealing with motivation for buying the machine. I see a few categories here:
I'm a weekend warrior, want to fix things and tinker.
I'm thinking this will be a serious hobby (I'm retiring), so I'm looking for enrichment, learning, and creative outlet.
I have a sideline interest in (automotive restoration, bike customization, model making, whatever) and want a machine to support that mostly.
I want to learn this craft along with my kids as a family thing.
I have an idea for a product to build and sell, so I see this as a money-making endeavor.
I like fixing up old machines so I'm really interested in something to customize and take to the county fair to show off.
Thinking back, I found a lot of the terminology thrown around pretty confusing. For over a week I labored to understand the difference between an "Engine Lathe" a "Toolroom Lathe" and a "Precision Lathe" and ultimately decided it was all BS. A lot of the terms used to describe components of a lathe are also pretty unhelpful - like "compound" and "banjo" and "change gears" and acronyms abound like QCTP, PDB, 5C, ER32, Chucker, Indexable. A glossary that cuts through a lot of this jargon in very practical ways would be immensely helpful. Maybe it already exists, but I couldn't find it six years ago.