I had a Smithy 1220 XL I think for about 12-15 years. The capacity was somewhat limited, but still it worked for about 90% of what I do, and I made quite a few things on it. I could get accuracy on the lathe of a couple thousands if I was careful.
You have to remember it is a Chinese piece of equipment. A step up from most Harbor Freight stuff, but it had some quirks. I had to make some modifications - the belt tensioner and electric motor it came with were junk. Seems like I had to rework a couple of the feedwheel mechanisms a bit to make them not rattle apart. You have to adjust the gibs somewhat frequently to keep it tight.
The lathe portion of mine was the best tool. It came with all the change gears and would cut threads well if you took the time to set it up.
The mill was a bit awkward to use, because the travels were pretty short and you were always working sideways to the head.
The thing that always frustrated me about it was the lack of power. You had to take very light cuts or it would overpower and the belt would slip. anything complex took awhile on it.
Would I buy another one? Well yes, if I were limited on space and just wanted to learn, I would buy one in a minute. They are especially handy for quick repairs around an auto shop. One thing I do know is that Smithy name gives it good resale. I put mine on Craigslist - must have been too cheap, because I had emails from all over the country literally overnight after I listed it. Sold it in about 2 hours after I got up in the morning.
