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Jed, I do covet a bigger lathe but as I have almost the same model as the Warco one except even more basic (change belts to change speeds), the only thing I could really do with is variable speed. The axminster version has an optional bed extension so you can do a surprising amount on it. For my money, and given Andy's question (mini lathe) you can't really go wrong for this money.
Axminster AWSL was my first lathe, can also have an bed extension added later.
Made bowls up to 10 inch diam, pens, vases etc no problem, but, I soon upgraded to make bigger and heavier stuff.
Depends what you want to make.
& it only cost about £180 or so.