I would not be without a lathe and mill in the workshop. There are bargains to be had on Ebay if you are prepared to wait. I managed to get a customer return lathe for less than half price a few months ago, it replaced a 100 year old Drummond that I had used for years. Old lathes can still turn out accurate work as long as the headstock bearings are not too worn, and can be picked up for ten's of $ rather than hundreds.
Regards rog8811