Harbor Freight (1-800-423-2567) has a 7" diameter x 10" long lathe,
that is the nicest little lathe I have seen, and at a price about
$365. I am a electro-mechanical engineer, and have bought several
lathes in my long career. The runout of the chuck is under .001,
measured 4" from the chuck, this is very good.
Micro-Mark (1-800-225-1066) has the same lathe extended to 7"dia. x
14" long for $629 with a lot of add-ons. These lathes are made in
China, and beautifully done, all the surfaces are ground.
They also have some mills at various prices. John Burton