I suggest you try someone else's welder, to loose that impression of bad quality.
I find it easier to use than the one at me folks, which has 16a supply, adjustable amperage, cooling fan, and whatever else.
That being really cumbersome leads, what's another apple to juggle, to me.
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The only things what I can fault with my 40pound/50euro welder is the crimp connector failing,
and the molded plug needs replacement, as I can see the strain relief didn't do it's job.
I reckon I learn something everytime I use it.
My thoughts on your niggles with this...
"It has what amounts to a thick or thin setting, and usually I want in-between"
Can you get in-between electrodes? (guess so, but not easily/cheaply)
If in doubt, and it's not obvious one needs to use thin rods w/lower amperage,
then it's highly likely that you'll be best using full power.
So in the case of things melting, the solutions for that could be many depending on what it is.
Small things melting, didn't wait for the wee piece to cool down.
Thinnish things melting, weren't aiming the rod to the part with more mass,
i.e welding box above, no pointing at the end of something, (just like a chisel can blue if ground heavily) instead focusing on the other section, and only dragging the puddle back onto the meltable end of the box
so always going from thick to thin
"Probably be better with a thicker cable (read - lower resistance)"
Doesn't seem to help things with the one at the folks.
Whatta I learn this week, seeing as I suppose my experience has plateaued a bit?
I learned I only want good welds, and that might not be achievable 24/7 with my supply.
Seems there is a big draw which saps our leccy occasionally, especially just before dawn.
Gotta work on my organizing, so I can do something else instead of welding,
and test a piece before getting stuck in, and not stuck to.
Just saying, I wouldn't be surprised if this were the case for many folks.
The solution to that might be an inverter welder, which I've got no experience with.
Admittedly, I don't know if I'd be so keen to find out if a cheap one like in the middle isle,
would last the test of time, lots'a bits to break which wouldn't be surprising on a thing which
makes metal soup.
All the best
Tom