Having purchased both a grizzly lathe and a second hand XLO mill in the past, I would strongly suggest that you search around for a good old second hand lathe, one that stands on it's own if possible.
Depending on where you live, this may be a problem. it seems that in the less populated western portion of the states such equipment is difficult to come by, hence my purchase of the Grizzly. It works fine, but for what I paid for it, ($1300) I probably could have got twice the lathe with something twenty to fifty years old in good condition, second hand, in most of the east and midwest. I have run several different sizes, makes and ages of lathes on and off the job, and it is very easy to notice the difference in good old american steel.
That said, I did end up buying the Grizzly after searching for a while elsewhere. it works, but not like my fifty year old mill does...
You are your Primary Defense. Train your Primary Defense.
They that can give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety. -Benjamin Franklin