That one-way lathe is pretty nice, but is certainly on the budget max side. I will say that I have turned on a Rikon 700-220 VSR, and it is very nice. I started with a Jet 12 20 VSR, and unfortunately mine was a Friday night built on and I had a ton of issues-ended up with the Nova DVR XP, which has been a good-not great- lathe, but I have had horrible issues with the integrity of Nova/Teknatool. If I was going to look at lathes again, based on feedback from friends that have them and the customer service the have received, I would probably be going with a Rikon. Oh and btw, I definitely agree with those who have said get as much HP as you can afford--you'll like it in the long run!
Good luck, a new lathe is always fun!