Greetings from Nebraska and welcome to the IAP community.
I started out with a Harbor Freight lathe and after a couple of years changing belts to set the speed, I waited for a JET sale and bought a JET 1221VS from a Woodcraft store in Omaha, NE. The variable speed is fantastic. I can go from 3600 RPM for turning down to the mid 100's for finishing without having to move the belt! I have made a few minor improvements to it since then though such as an improved banjo nut from Rick Herrell, Rockler dust scoop for my shop vacuum, Rockler tool rests, a home built rotating handle for the tailstock, and an aux On/Off switch mounted in a more convenient place (on the left side of the lathe) for me for when I am wet sanding.
Once again, welcome to the community! - Dave