I bought a big bore S7 from Myford in 2003 so have lived with it for 21 years now. At the time it was ~£3500 though I got a stand and had the bed induction hardened which cost extra.
I was dismayed by the level of vibration on the higher speed ranges which made any speed using the smaller driven pulley on the countershaft unusable. Eventually I fitted a Newton Tesla 3phase package and it solved the problem so I would say don’t even consider buying a single-phase version. The earth bonding wire on the original motor fractured from the vibration.
The top slide is flimsy and I no longer use it (but have cnc’d the machine so it isn’t needed). It’s travel is also restricted which limits it for tapers longer than MT2.
Though the bore is advertised as MT4 they don’t (or didn’t) make it plain that it’s shortened MT4 so standard tapers will not fit (though that was only a problem once). If you’re not thinking of the big bore I think the standard spindle bore is very limiting.
Having to remove the spindle to replace the belt is crazy – few other modern lathes require this. Good reason to use a link belt.
I bought a metric machine and was puzzled by the graduations on the leadscrew handwheel until I realised that the main leadscrew was imperial 8tpi! For heaven’s sake!
I don’t know if the instruction book has been updated but the one I got was woeful and didn’t really describe the machine it accompanied.
Not yet a problem on mine but the bed design with rectangular sheers is poor – there’s a reason that most modern lathes have prismatic beds. Even the Unimat 3 did! When they produced the 254 so did Myford…
In principle the wide range of accessories is good but actually there isn’t wide choice of new ones and the secondhand market is dwindling – and the rarity puts the price up. Many of the accessories were introduced to circumvent the lack of a milling machine in the home workshop but that isn’t so much of a problem these days.
The design is (in my view) over complex making it too expensive to produce and Myford’s never bothered to update it, part of the reason they went bust.
Overall I realise that probably it wasn’t really a good buy in retrospect though it has served me well. I would not buy another when I see the excellent work done with much cheaper machines from China etc. Knowing what I know now I would probably have bought one of those or a used industrial machine. The SC4 from APTC or Arc is about 1/3 the price and you can buy a lot of accessories with the difference.
These are just my opinions of course.