[Doug G]

A couple of years ago we got a Smithy 3 in 1 and it suffices for most of the jobs we do - but the cost of tooling is significant, and we have now spent 2x the amount of the mill on the tooling (Rotary indexer, 4 Jaw Chuck, clamps, Vice, indicators, cutters, boring head, and the Digital Read Out).

Last year we got a grant and purchased a small benchtop CNC by Microkinetics and when I say small, I mean small. But we use it now a lot to make mounting plates for motors or transmission plates where the mounting holes need to be tight in tolerance or if you need a .498" hole to press fit that bronze bearing etc... The max piece it will mill is 3.75" x 7". So we often use 4" bar stock or smaller where the cuts are no more that 3.75" from one edge. It's faster for students to learn to use than all the components needed to make the same part on the manual mill. We write our own G-Code, but you may be able to get MAsterCam donated, although you end up spending more time in MasterCam than just writing the code yourself.

The CNC cost came to about $4000 and there's not a lot of tooling you can get for it because of its limited size (we just have a couple of endmills of diferent sizes like 1/8", 3/16", and 1/4"). Just a lot of patience with it as it only takes off .05" with each pass and you have to clear the chips out of it with a shop vac constantly.

I included some pics of parts we made this year on the CNC. I don't mean to let this thread get off topic, but I think its unrealistic (not impossible) that you'll get a mill or lathe up and running for $5000. Other dire shop tools are a horizontal band saw (~$200), Drill press, and don't forget how useful a disc/belt sander is also.