The 7x mini-lathe has now been available for quite some time - well over 20 years which is about when I bought my first - Homier 7x12. (A personal aside - after being lathe-less for a few years, I was going to get a 9x20, but got a good deal on a 7x16 and went that direction - poor decision.) BTW, does anyone really and truly know where the 7x mini-lathe was developed? By "7x mini-lathe" I mean the 7 inch, electronically controlled spindle speed, Chinese/Asian lathe as we know it. And not the Craftsman/Atlas 6x18, various watchmaker lathes, and etc. Neither Frank Hoose (mini-lathe.com) or Chris Wood (LMS) could provide authentic information in this regard.
Not much has really changed on 7x despite advertising hype. The only significant change is the brushless motor and the 4 inch spindle, and the latter, in certain size situation, is not best. The rest are just minor things of marginal significance. And, IMO, quality has not improved - perhaps a bit worse. Certainly my experience. Manufacturer inertia (a body at rest tends to stay at rest) provides that there will be no serious improvements. And I only refer to items that would not upset the 7x size platform or aftermarket support - such as bed rigidity (more bracing), headstock rigidity (and 4-bolt attachment - as I have done), and tailstock rigidity. I have always noticed that the tailstock is taller than its length - not a good formula.
But a true improvement would be a completely new bed with wider ways with dual V's, and much better bracing in the motor area. Some of the 8x lathes make some improvements in this area. The 8x lathes have been "received" into the mini-lathe definition. I am of two minds on that, but it is the current situation. The 8x lathes with the 1 3/8 inch (nominal) spindle through hole and 50% more weight really become a more capable machine. That is of course my opinion as one does not stop by Walmart to examine one.
I expect we all occasionally, or often, take on work that is larger than the designers of the mini-lathe had intended. And I paraphrase a statement by one wag that said; "A cantankerous, troublesome mini-lathe is better than no lathe at all". I must agree as I, quite some years ago, built a Sparey 5cc engine with my first 7x lathe - a Homier 7x12.