This is regular question. Thereb vis mno "Perfect" lathe, nor "One size fits all".
The mention of a DB8VS almost selects the size that you seek.
But what you want to make will be a determining factor.
But don't be taken in by the comments about Chinese lathes.
They may not all be perfect, but some folk, mistakenly, seem to think that £600 buys a Toolroom lathe capable of micron precision. Their budget tends to be about £30,000 too low.
If you think that you know what size to aim for, my advice would be to buy something slightly bigger, ready for when your horizons expand. OK, so a 21" Dean Smith and Grace is not a lot of good for watchmaking, but would cope well with a 6" Traction Engine.
You can do small work on a big lathe, but the converse is a little more difficult.
If you, or a companion, know what you are looking at a good secondhand machine can be a bargain. Old machines can produce superb work in the right hands, but spares may be rare or eye wateringly costly.
Excellent work can be turned out on a lathe a century old!
Having read of problems with electronically controlled hobby machines (Possibly of the operator's making, in some cases ) My preference is for lower tech belt or gear head machines (I do have a mini lathe, and have had no problems during the little use that has been made of it )
My original well used, quite secondhand, Myford ML7 was replaced by a Chinese machine with a UK fitted VFD. Yes, it did have a couple of minor problems, which were easily rectified. The major problem was one of my own careless making.
I have no complaints about it. FWIW, it is a clone of a Warco BH600, or a Chester Craftsman – which is still available. If you are lucky, you may be able to find a secondhand one in reasonable trim for your budget.
As new, they came fully equipped, chucks, steadies, faceplate, Norton gearbox, with a feedshaft, separate from the Leadscrew. but you will need some tooling, unless it is part of the sale package..
But don't forget that you may need to allow for even a little measuring equipment. You can expand further as time and budget progresses.
Ponder before purchase, and as you are doing, seek advice.
Howard