I have it. I bought it a few months ago. It is very well made and has expanded my capabilities. However, if I were to review it I would say:
1. Handles (for turning) on the tailstock and cross slide and cheap and tend to come unscrewed. I imagine I could find replacements if I just looked.
Other than that i am very pleased with it. What i really wanted to buy was:
http://www.micromark.com/MICROLUX-7x16-MINI-LATHE,9615.html but they were out of stock for a long time and I'm impatient. Not sure about the quality of that machine, but it looks like the same lathe except bigger.
I find working on the 12 inch lathe to be very crowded at times (i get around it, not that big of a deal, but if I had it to do over I would get a 16 incher or bigger. But if you get the 12 inch from Little Machine shop you will be getting, in my opinion, a well made lathe. It required no tuning at all to be dead on right out of the box. it's bolted to the wooden base of a wooden crate and is fully assembled except for a couple of handles. You can search the forums for metal lathe threads. I posted a million of them asking questions trying to figure out what to get.
If you have any questions feel free to private message me and i will try to give you my run down on what you need to purchase to get it up and going.