Matt is a great guy and provides lots of support to his customers.
One downside of a converted engine lathe: Not enough X-axis movement (only 7"). So you probably can't do gang tools on this lathe, and are stuck with the stock 4 tool automated tool post, or the optional 6 tool turret. In comparison, on the Tormach, the X axis has 10" of x-axis travel, so you can stack on 4-6 gang tools plus the optional 8 tool turret.
Chip removal on a slant bed lathe is much superior to the converted engine lathe.
Depending on your budget you might take a look at the Smithy FL300-II, there are some happy customers with that lathe. Also Siemens/Servo drive. This is a step up to a more commercial offering.