If I really needed a small lathe, i'd add a bit more cash and buy a second hand Myford. If you buy secondhand, using an educated eye, you can pick up some real bargains.
The basic lathe is only the start, it's all the little extra's cost the big money, there are some great deals to be had, but you will need patience, all my past machines have been bought via word of mouth contacts. Contact local modelmaking clubs or miniature rail enthusiasts often they have knowledge of kit available.
Shep