Good deal on a lathe?

[Rick TYler]

Originally Posted by DeepWater

First, let me say that I have no actual experience working with this particular HF lathe (#44859) however (...) If you go for a mini-mill I would recommend getting one with a R8 spindle rather then an MT3. R8 tooling is cheaper and more common.

I am way more of a woodworker than a machinist, and you are clearly The Man. We might be getting a grant for $2,500 or so to spend on tools. We already have everything you'd expect in a good high school woodshop (including two drill presses). What metal-working tool would you buy for $2,500? I am not thinking of handtools, by the way. We're OK on calipers, grippers, pounders, &c. Thanks!