When I bought my ML7 in 1968, with chucks ,motor etc it cost £120 ( basic it was £72 ) about a tenth of my annual salary,very good value compared to a Fobco drill at £52 .I would have preferred a Boxford as I had used one weeks at a time at work and they were good,they were expensive and so were the accessories, and as I wanted to build a TE the 10 inch gap was better than the 9 inch swing of the Boxford, Larger lathes in those days were not considered as they were expensive ,no room at home ,and engineering was expanding and s/h machines were not available.In 1973 after a good run of overtime I upgraded to a super 7 ,keeping all mt accessories from the ml7
The Myford at that time was ideal,it was essentially a smaller version of larger lathes ,with back gear ,leadscrew half nuts and was operated like a full size lathe,plus there were useful accessories though these could be expensive compared to the base machine cost .The price of Myfords rose over the years higher than inflation until the price in recent years got rather silly ,I was at a ME exhibition a few years ago and when looking round the Myford stand and thought that at these prices its not if but when they go broke . They had a good product and in straight engineering terms it was probably still good value for money but its a hobby market where for the average person its the pounds that count,and there is no answer to the low cost but far inferior import.
If I was starting today what would I do ,models are now built to larger scales,I have space and easy access to the workshop, I would buy a Colchester,probably a Bantam. When redundancy loomed I had to earn a few shillings at home I acquired two Colchesters plus other kit. Now I shall soon have to downsize and the hardest decision will be what to keep and what will have to go,though I doubt I will ever sell the Myford, for its time the design was right.