I have a TC12" with variable 1hp. I would say for all around it's great for the price.
Pros:
Easy setup
Light, but heavy enough not to have to bolt down
Endless torque (turned some pretty big stuff and wood gives before the lathe)
Variable speed is awesome!!!
Very quiet, with the below exception
3 year warranty
Cons:
Has a belt tick; tried replacing belt but still there (drives me bonkers)!
Took about a week to shim, tape, unshim, unloosen head, etc to get head/tail aligned. Still likes to move around, but within 1/64 of an inch (not milling aircraft parts so gtg).
Tail stock tension mechanics is kinda loopy. It works though.
Head shaft lock gear is plastic; broke a few teeth being a knucklehead
Overall bang for the buck, I like the lathe, but as soon as I find a jet on Craigslist cheap, this one may become my buffing station.