Some good responses thus far! Thanks guys!
DSL - I didn't know about SmithyCNC, thank you for that information. Glad to see that my lack of knowledge isn't too far off the mark.
CKM - Upper limit is $10 as stated, so a $40 VMC from Haas will not work. I'm of the mindset that I'd rather buy quality once than trying to rig up something or put lipstick on a pig. Retrofitting a bridgeport will be better than trying to make some gantry on my own from what I've seen.
I don't expect this to be easy or quick, nothing good ever is; skills have to be earned. That said, I'd rather spend my time learning instead of fixing.
DareBee - the IH and some of the others I've seen have larger X, but the Tormach is limited, you are right. I haven't forgotten about tooling either, I have a separate budget for that stuff. Computer isn't a problem, I've got a bunch of those sitting around

Software isn't going to be a problem either. But the accessories... well to butcher a phrase, they are the spice of life.
MikeWB - Glad to hear I'm not alone there. I've actually considered buying a full CNC micro, learning on that, and converting a full size at the same time... but that's not going to work for me in the long run. Thanks for the heads up on the research - I'd already found Coolman's thread and read it over. Thanks for the tip on the Digital Machinist magazine as well - I just called them and ordered copies.
Caprirs - Yeah, that's what I expected. Basement location pretty much eliminates the ability for a full size mill. Stupid basement! I don't mind breaking stuff down to 200-300lb sections, I know my stairs can handle that - I was able to get my gun safe down there no problem. 1000lb chunks however... that is a no go. You are right about the requirements in conflict which is why I listed the "ideal" set up, not the "must have", and am asking for your guy's knowledge and experience on guiding me down the right path. As much as I'd love to machine a clone of a
LMT Monolithic Upper for personal use, I know that's unrealistic
for now. That said, there's nothing stopping me from making 17" and smaller items like fixed blade knives, folders, and motorcycle parts on a smaller mill, right? Semper Gumby!
I agree with you on the gantry style, which is why I haven't even bothered including them on my list of possibilities. The neighbor's are a no go as well, unfortunately. I'd sell my motorcycle before I worked with the neighbors.