I think this might be my first post in the machine shop!
I have just treated myself to a mini-lathe - it was held up by the snow, but finally arrived yesterday, so thought I'd share....
The lathe is a SIEG SC2 thing, from Axminster tools. These SIEG lathes are available under a few different names, but Axminster had a showroom not too far away, so I could actually go and see the different models in real life. The SC2 was a good match for the space available, and for the wallet too.
That exact lathe was my first one. An excellent way to start learning how different materials feel.
To make the bed more rigid and reduce chatter and vibrations I'd suggest to bolt it down to a heavy bench. Make sure to shim it, so there is no bed deformation.
It cuts brass and aluminum pretty nicely. With light passes it can handle even steel, but you will need patience if need to remove lots of material. You will find quite a bit of chatter on those lathes, so play with different cutting speeds (that machine is very convenient, as it has variable speed control) and cutters (BTW, have a nice grinder near by, so your tools are always sharp). The threading feature is a nice detail and an excellent way to learn. Keep in mind, the chart does not have all the possibilities, but you can recalculate and cut even 60INS threads found on Gefell and B&K measurement capsules and many others.
I'd suggest to get a quick tool change--you will find it much faster and easier to work with. Instead of shimming tool bits you will just set the height with a nut.
I am sure, like myself, at some point you will outgrow it (it might happen pretty soon), so don't invest much into chucks and other accessories.
I sold mine long ago and by now have three lathes:
Monumental super precision Hardinge HC chucker with automatic turret station and spindle runout of 0.6um:http://www.machinemanuals.net/web_pages/hardinge_hc.htm
Super precision Hardinge DSM-59 second operation lathe with tailstock turret and production slide:http://www.machinemanuals.net/web_pages/hardinge_dv.htm
and Dunhan speed lathe with hydraulic tail stock.
And then I replaced a broken connector on this B&O microphone, by cutting off the old on, and re-threading for an XLR output...
How about for the next project making that Neutrik thing from scratch?