IMHO I would use HF for all of my 'use it up and replace it' type of things.
Equipment is often a very different animal all together. I believe you get what you pay for most of the time. I also would consider what I would do if I needed a part of service. If the JET parts fit the HF then I maybe would consider it. I sure as heck would want to go visit someone locally that has the HF lathe in use.
I have looked at their machinery and was just not impressed to much at all. Many parts are pressed metal, sharp corners, etc. The quality just doesn't seem to be there for me.
Consider their warranty vs the name brand machines. Consider what your time is worth IF and when something gets out of whack. Are you mechanically inclined or would you need to have a service technician come out to your place??
My vote is to go with the name brand folks every time.
Oh yea, buy a bigger lathe than you need right now as you will surely grow out of a small one in no time at all.
Do not be in too big of a rush to get up and turning. Go to Woodcraft/Rockler and get them to turn on the displays. Stand in front of the equipment and see how it "feels" to you. These things are a bit different in style and it sure helps to acquaint yourself to them before making a decision.
I would suggest getting the beefiest, heaviest, solid constructed beast out there. Durability is important when you have large chunks of out of round/balance wood spinning in front of you.
Get a lathe with electronic variable speed control for sure. You just can't beat the convenience!!!
Something else ... check for add-on accessories. What kind of morse taper does the HF use? Is the hole in both the head stock and tail stock through and through ... this sure makes for easier removal of stuck thingies if the hole if open all the way through.
