@mac1911
Having gone down the very deep rabbit hole of a complete rebuild of a 7x from the bedway upwards, I can say that the cost of parts alone, so far, has hit £1400 (approx $1700 USD). A portion of that is due to importing certain imperial parts and parts not available to the UK market.
In real terms, without the imports, the costs are more around the £1100 (approx $1400USD) mark.
Yes, I could buy a better machine brand new for two to four pounds hundred more, but I would lose the benefit of knowledge gained during the rebuild, plus I would still need to attend to the upgrades and mods I am incorporating. At the end of the rebuild process, I will have exactly the machine I want, set up the way I want with the features I want (extended cross slide, custom lead and feed screws, custom handwheels et-al).
Even for my SC3, a basic "upgrade and mods" package would be around £400+ (approx $507USD) on an already £1k (approx $1268USD) machine.
Is it worth it? to me personally yes as I am gaining a lot of very particular knowledge as well as gaining an exact understanding of how the lathe is built, how it is setup, how it is adjusted as well as the capabilities and limitations inherent in the design of the thing.