The 1236 is a great lathe. Keep a couple of spare belts handy, and you are good to go. I have owned one of these for several years now, and there are only a couple of small quirks.
The tailstock has a setscrew on the retainer part that rides the cam. This is a trick, as you can't tighten it all the way, or the cam lock won't work properly, but if it loosens up too much, then the bottom falls out of the tailstock. Check it every week or so, even though it is in a really awkward location.
Also, if you turn Acrylics, the strands will get sucked into the motor regularly. I take the cover off, and clean things out often. This has kept the machine healthy and happy for me.
Great lathe. Even better at half price!