Welcome to the Forum.
You will find plenty of help and advice on here.
FWIW, Don’t rush into buying a larger blathe, just yet.
What you eventually choose will depend on what you want to do with it.
You can do small work in a big lathe, but the converse is a lot more difficult.
I found that the 2MT spindle bore of a ML7 restrictive, and wasteful of material, since anything larger than 1/2″ diameter had to be cut into short lengths, resulting lots of dog ends.
There will be screams but I think that Myfords are over rated and consequently over priced.
Having said that, fantastic work is done on them.
The quality of far eastern lathes has improved with exposure to the western markets
I ended up with a lathe that was larger than really needed, but with very little beyond its capabilities.
A new Myford Super 7 Sigma, would have cost four times as much, and still lacked one feature that I really wanted.
(And, I also have a 7 x 14 mini lathe for the occasional small job, when the big’un can’t be broken down)
So think long and hard, and talk to others before buying.
Howard