Hi – long time no speak. Been busy with a load of other stuff. Still am, in fact.
But since I've had a Bormilathe for several years now, I can tell you a bit more about how it behaves – and with a few caveats, it's not as bad as you might think. Yes, I have it for reasons alluded to above – you can put flywheels on it, which I can't on the Kerry. Well not very big ones, anyway.
As far as rigidity goes, it's not bad – as long as you take a few precautions, primarily remembering to lock the vertical slide holding the headstock in place after you've moved it. If I put a dial guage (mounted on the milling table) on the inside of the spindle, I have to put one heck of a lot of force into the headstock before there's even a hint of movement on the dial – and this is a 0.0001" guage. Likewise, there's no perceptible run-out in the spindle either when you rotate it. The last job I used it for was as a horizontal mill, to cut a vee in a chunk of mild steel to use as a new base for a fixed steady for the Kerry. It didn't bat an eyelid. But there again, I've also reworked the cross-slide somewhat, which has also helped. So I'd say that yes, you can do serious work with it – as long as you have your eyes open.
And that's the thing really – not miraculous out of the box, but with some work it can be improved. It has some annoying features – like no means of controlling the motor. You plug it in, it runs. The backgear control leaves a little to be desired as well – not exactly positive in its operation. Drive to the leadscrew is 'fun' to set up, and non-reversible. Without a lot of work, it's not really going to be anybody's main lathe for long – that is, unless they've never met another lathe…
The temptation to spruce it up and put it on eBay is quite strong, if it fetches anything like £1,600. That is so much more than I paid for it!