As for it's price....
with all of the tooling the price is very fair. But do you need tooling or a lathe. Most of that tooling requires years of experience to use.
The picture at the top right is the quick change gearbox. Worth it's weight in gold.
You can buy the B2227 lathe from busy bee for about $1000 on sale. But you will be manually changing gears everytime you want to cut a thread. But I have one at work and Eric has one as well (His is clean...feel free to razz him over that) and they work very well