For those looking for a good deal on a beginner lathe, let it be known that Amazon.com has the Jet JWL1236 for $399 with free shipping. For someone with a smaller budget, Harbor Freight as their Jet clone,
34706, for $179 at their stores. For those worried about Harbor frieght quality, you can buy a 2 year replacement (not repair) warranty for $35. For $214, not a bad deal for the 3407 with 27 months of coverage. The Jet is clearly a better unit, but the 3407 should be quite serviceable.