Hi CNC Brute,
Are you a machinist? Do you own measuring tools? Calipers are nice, but if you want to do serious measuring you will need micrometers. The same holds true for any inside work. If you have gages, you can do a lot. If you have inside mics, you can do a lot more. Dial indicators are a must for any offset work or to ensure a setup. A wiggler will be spot-on. Or there abouts. Its a small lathe, so it won't be too necessary to have the high dollar measuring tools unless you are building something like a scale model working space shuttle. Some of the guys that I know have built steam engines with calipers.
Cutting tools and a way to grind them are important. (Carbide lathe tools can be ground with a silicon carbide "green" stone on a grinder) Boring tools, knurling tools (this machine is too light for anything beyond aluminum, I'm afraid), a good drill chuck (I favor the keyless or "ball bearing" type, myself, depending on the job. The cheap key type chucks you find now-a-days are junk, usually .012" TIR or worse) a GOOD rolling center (I know these are called other things, but... the machine doesn't come with one), a four jaw chuck and a good book (book needed if you haven't turned anything ever before or if its been a while).
Does this sound like a lot or about what you expected? If you have been doing a lot of machining and I've missed the point, please say so and I apologize. If you are looking for some advice on how to get started let me know. I love the basics and have been involved with people just getting started. Otherwise I'll hold my peace and keep watching for your posts!