I own a Tormach, and I would buy another one. If I ever have a need for more travel distance and faster moves, I will probably buy a used HAAS or something, if the job I need it for will pay for it.
Learning some CAD/CAM basics will multiply your ability to do things on any CNC machine. The CAD/CAM package offered through Tormach is not a bad deal. I didn't buy it, I'm using an older copy of something else I paid for a long time ago. Fiddling with modeling and the postprocessor is still costing me time I'd rather be spending on other things. I should have bought the package. Alibre gets very high marks for ease of learning and straightforward operation. Lots of other packages have very steep learning curves.
You will have to learn how the basic G-Codes work. It isn't very hard. But it's very difficult to do complex operations with handwritten G-Code that would be a snap with the right software. You still have to check the output before running your machine, though, to make sure it is generally going to do what you thought it would do.
The tooling system is a must have, and is very inexpensive for what you get.
I haven't used my 4th axis yet, either. But I will!
On speeds and feeds, it's a whole career field to get enough experience to know where to start. And the default ones in the programs are often way too aggressive. Part of the magic is in having the exact proper tool, I have discovered.
I saw a Smithy first-hand last week, someone I know bought one. It's a lot of machine for the money. But it doesn't hold a candle to the Tormach. The guy who bought it knows nothing about CNC, and wanted a manual machine. But it has its limitations, made me glad I bought the Tormach. He's already wondering aloud how much trouble and cost it would be to retro a CNC control onto it (a lot, for a newbie). With the 4th axis, I could do the part on the Tormach that he already can't do by hand (probably).
Before I bought the Tormach I looked extensively at used machines, Bridgeports, retrofits, other small CNC's, etc. The Tormach has far and away the best bang for the buck out of all of the choices. I didn't want to make a hobby out of building my own machine or rebuilding another. I didn't want a knee machine because I wanted serious flood coolant, and I didn't want to have to worry about rigidity issues. The knee machine can do some parts that won't fit on the Tormach, generally. But for the parts that fit on the Tormach, the Tormach blows it away, no contest. I have a manual Bridgeport that I can use, and I usually don't bother with it, even for simple stuff. Why not get exactly the results I want on the first try?
I'm not a machinist by trade, but I design and build complex machines from the ground up. The Tormach is hobby/work for me, so I can save money on special parts for my machines, get them sooner, and plus, have some fun fiddling with learning the new skills. I don't get to use it as much as I'd like, but it's getting to where the productivity is starting to kick in.
To sum up, like I said, I'd buy another one.
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