Hi RWM: The owners of Grizzly (Sikhs from India), bought the right to the name South Bend and now are taking advantage of the former company's reputation in their "new" line of South Bend Lathes. They are made in China and they are of very good quality and finish and in fact a way above their own Grizzly line machinery.
Nothing wrong with that, however, they are way overpriced and neither you or me want to know their cost and mark up. China, contrary to popular knowledge or opinion, manufactures anything for a price. They are given directions by distributors, as to the quality of materials, craftsmanship, design and most important price, for any piece of machinery or item. At the same time, China manufactures Industrial Grade Equipment second to none, sold in the US and all over the world at competitive prices.
So the common notion that China manufactures "cheap junk" is the product of ignorance and prejudice. They in fact, have made possible for home shop and hobbyists, the purchase of equipment at affordable prices that require "finishing touches", improvements and general TLC. As for your one decision, I would recommend a middle ground in price within your selected size and features. In general as always, "you get what you pay for". If you have the time, patience and knowledge, one of the cheapies, can be converted into a little jewel. You'll find countless examples of that in the web. In the end, it is you the owner and operator, that is the deciding factor and not the equipment.
I've seen masterpieces made in lowly 7x12 lathes.