Thanks for your welcome and advice chaps, I realise a forge is not the healthiest environment for a lathe (grinder particles especially) and I'm going to make a Sterling Board cover and perhaps some trace heat in the from of a tubular heater for the 9 months of winter we get in South Cumbria,( the other 3 months being just bad weather! )
From memory the cost of a new Myford ML7 was about £530 in '72, and I can recall making a pocket money graph against time to project a likely purchase date at a rate of 10/- a week.
I think I'm ahead of my schedule so can't complain.
Looking forward to your opinions, help and guidance.
Guy