Boy have you opened a can of worms.... I have a Jet1236, I purchase it last year at a really special sale at Amazon and only paid $379 with shipping.. you are now looking at about $200 higher...
I also have a Jet Mini that my club is using.. again got a sale price I could not afford not to take.. even though I really did not need another lathe..
BUT... I want a bigger lathe eventually... I will probably look at the Jet1640 or a Powermatic... both great electronic VS speed machines...
OK, let's get down to brass tacks... I am going to get slammed for this, but.... I DON'T CARE FOR THE HARBOR FREIGHT, GRIZZLY or CRAFTSMAN LATHES, I have seen and turned on a few of them and they just don't have the quality of my Jet... and if you decide to step up to a better lathe later, they do not have the resale value, unless you find a newbie who really really wants to save money...
Let's look at the variable in buying a lathe:
1. What do you want to turn. If all you are going to work on is pens (YEAH RIGHT, It ain't gonna happen), I would recommend the Jet Mini VS... but the non variable is a great machine also.. If you intend to also do bowl or spindle work, I would not go smaller than the Jet1236 and if you can afford one get the Jet1640.. it is real sweet and if it had been available when I got my 1236 that is what I would be using now...
2. How much room to you have for your lathe.. If you are in very small shop and already have a bunch of tools, the Jet Mini might be your best alternative, because it can be placed on a shelf when not in use...
3. What do your finances look like... This is a biggie.. because in the beginning we all want to get started immediately... DO NOT buy cheap in hopes of buying better later.. you just end up spending twice and not getting what you really need. Also buying cheap and not getting a good machine, may turn you off to turning because you are not getting the most out of your lathe... better (Higher priced) machines work better and last longer.. Also remember you are going to also need lathe tools, a slow speed grinder with white wheels and a sharpening jig to keep those tools at the proper grind... In the end I have spent a lot more on my tools and accessories than I have on my lathe... it is something to consider..
3. You will want a lathe with a real stable platform... this means strong legs and weight.. on my 1236 I put a couple of silo blocks on the bed of the lathe when turning out of round bowl blanks to keep it from vibrating... some people actually screw the lathe to the concrete floor of the shop... weight = stability...
4. I definately recommend getting a lathe with some sort of variable speed system instead of having to change belts.. it just makes life easier.... the Jet reeves drive works fine, but an electronic VS system is real sweet and you can get your speeds down a lot lower if need be..
5. If I have totally confused you by know and you have no idea what to look for.. I would recommend looking here http://www.woodturner.org/community/chapters/members.pl?submit=Chapter+List and finding a club in your area... most clubs have mentoring programs you should be able to work on more than one lathe to get an idea of what you like... or possible take a look at a class at a local woodworking store.. see what is available... turn the machine on, even if you can't turn on it... see if it feels and runs smoothly...
6. I do not recommend a lathe with a motor less than the Jet Mini has.. in fact if I could I would mount a 1-1.5HP on my 1236, just to have the little extra oomph it gives..
These are my opinions for what it is worth... I am no woodturning guru... but I did do a lot of looking when I got mine and fortunately had a good club to help me along...
Good Luck on your search