[JWL]

With 5 lathes in my shop I feel less than rookie status but still learning. Mine range from 12" X 36" to 26" X 10 feet. Most of the work has required less than 12" from chuck face to tailstock. Your pictures show a reasonably rigid little machine which should give you much satisfaction to turn out good parts. Many suggestions have been put forth and many are good, especially those which recommend a very solid, stable, mounting. I suggest you buy a PRECISION level which measures .0002(2/10000) per foot and learn how to use it to level you machine. I have 3 machines with taper attachments which have been used VERY little. One has collets and almost never gets used. So, unless you specifically have jobs aligned do not waste money or time acquiring such options. Have fun.