I must admit to not being a record fan either for the following reasons
note these observations are from using a school lathe that probably does not have the tlc that a home unit would benefit from so keep that in mind):
1) Twin bed bars - PITA compared to cast iron alternative, the banjo supporting the tool rest keeps sticking and has to be walked up and down rather than slides nicely.
2) Twin bed bars - they seem to have little mass to absorb vibration compated to cast iron alternative - try to find a recond owner without a pile of junk under the lathe providing extra mass!
3) No 1 morse taper and 3/4" x 16 tpi headstock (and 1 mt tailstock) always looks very little compated to 1"x 8 or M33. (However, I have never heard of this being a problem, just a subjective comment).
4) Having to keep oiling the headstock bearings - always managed to get oil onto hands and then work via tools / workshop kit. Probably me being clumsy but I did try hard not to make a mess!
5) Lathe I used did not have cam locking controls - another PITA (altough I think new units have this sorted as standard now??)
6) Solid headstock spindle meaning the thread protector is essential else you cannot remove the drive centre (you will forget only once - another PITA factor) and also preventing the easy use of a vaccum chuck at a later date without an adapter which will extend the mounting overhang (see small headstock spindle comment!!).
7) No direct experiance of problems myself but a search on the forums will reveal other issues which seem to coincide with a relocation of the manufacturing plant (but probably the happy customers do not post - normal story......)
On the good side, I think a 5 yr warrenty is probably the best out there in terms of length (although I am a little worried if I only covers the metal bits as I think I would take the risk after 12 mths on a block of cast iron or length of rod).
If it were my money, and circ £1k will buy you a very nice set of kit, I would be tempted to look towards Jet (probably variable belt for your budget) or probably I would give serious consideration to the Axminster AWVSWL1200 which has variable speed and looks a really nice unit (although I have never used one myself).
I would have recommended streching the budget to a Vicmarc 175SH lathe a while ago but the exchange rate is making Vicmarc quite an expensive option at the moment so probably a stretch too far although a top item if a used example came up.
Anyway, I hope the above is useful- as I say the comments on the record are only my opinion / experiance and it is based on a school lathe so may not be representative but may give you some points to think about.
BRgds
Simon