I'll give my 2 cents also. I bought the G0516 mill/lathe combo. I do not regret it at all. I went to Grizzly in Springfield to pick out a mill. But when I got there and started talking to the people there, I realized that I could use the lathe as much if not more than the mill. After looking at the options, (And how much room I had in the truck
) I decided on the g0516. I liked the design, included items and the idea that the sum of the parts were commonly discussed on this site.
I could have bought a large single use machine, but I would have kicked myself after I got home. I am confident that I made the right decision. Next will be the Grizzly horizontal/vertical mill and the gunsmith lathe. But that will be after I sell my old house and get my new shop put up.
I do dislike the belt controls for changing speed on the lathe but it isn't that hard to change. Plus, I am not without a mill or a lathe, And I spent about the same as you are looking at for just the lathe.
If you find it cumbersome or irritating to set up and use the mill, you can always order the x2 base from LMS for $149 and have 2 seperate machines.
I have just finished installing the x and y axis scales for the grizzly 3 axis mill DRO and I love the setup. I have the Z axis brackets to finish and hope that I will have time for that this weekend. But man does the DRO save time. I know it isn't cnc yet. But when I get more time, I will be ordering the Xylotex kit and starting that process as well. I am going to leave mine as a combo when I do.