I've had a 12" Turncrafter VS for almost a year and like it very much. I tend to do mostly smaller items, but I have turned platters up to 12" just to prove that I could do it. The controls are reasonably intuitive, and belt changing is very simple. The 1HP motor seems to be quite adequate for most applications; in my experience, the most difficult task is drilling end grain, and the motor seems to be fully up to that task.
That lathe is shipped in two boxes, and you have to assemble it upon arrival. Be aware that unless you are into power lifting, you will need to move the boxes separately - the combined weight is significant. You do have to do some assembly - it's not very difficult and if you are mechanically inclined, you really don't need to read the instructions first. The instructions don't tell you to check the alignment of the headstock spindle with the tailstock, but that is something that you should do. Mine was bang on vertically, but I needed to tweak the horizontal alignment of the headstock. That's easy to do - there are four bolts that hold the headstock to the ways - just loosen them and twist.
The most challenging part of assembly is plugging the cable from the VS box into the tachometer and the instructions aren't helpful here. The hard way is to try to fit your hand inside the headstock to plug it in, but its easier to open the door on the back of the headstock.
I found that the speed range out of the box wasn't what PSI advertised. I called PSI to inquire about that - and ended up talking with Joe Roberts who talked me through the very simple process of tweaking the VS controls to get the speed range to 200-3800 r/min.
There are two lessons that I have learned the hard way. First, the indexing feature is not a true spindle lock. It uses a plastic indexing wheel, and trying to use that as a spindle lock will break teeth off the wheel.
Second, the little knob that locks the belt shroud in place needs to be loosened only a turn or two - anything more than that, and you can completely unscrew the knob, and if you drop it into the pile of shavings that lives under the lathe, you may never find it again. I ended up making a replacement knob by turning a scrap of wood into a knob shape and then gluing a metric nut in the end.