I was given a Woodcraft full sized lathe about a year, year and a half ago when the owner upgraded. When I told a cabinet-maker buddy of mine about it, he said "you just went down the rabbit hole". As everyone says, the lathe is the cheap part. Mine is definitely not a top quality lathe, but it gets the job done. I am still learning how to utilize it properly. Everyone here has great advise. One option for chisels is that they now make handles with detachable heads. If you're not comfortable sharpening, they may be something to look at. I haven't gone that route yet, but am thinking about it. At the moment I don't have anything for sharpening, and mine are in dire need of it. The other thing is don't expect to turn perfect projects right away. It takes time to learn the feel of the lathe and what speeds and chisels to use when and with what angle, etc. Try not to cry too much when a great project flies apart on you. It happens.