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I bought an old Shopsmith for $200 and love it. I bought it just for the lathe. I alreay have almost every other possible stationary power tool, and didn't need the versatility of the shopsmith.
Many folks critize the shopsmith when they are constantly going from one tool to another, and that may be true, but as a dedicated lathe, it's great. Speed is adjustable with a dial, it will handle both small and large pieces, and if needed you have some other tools. I wouldn't pay serious money for one, but if you can find a cheap one for 2-300, it's well worth it.
john
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