You are going to wonder how you ever got along with not having a lathe. It sounds like you do and are talented enough to tackle most anything. That lathe will pay for itself in short order. Just a note...all the attachments, bits, etc. etc. will cost as much as the lathe itself. Once you start doing things with the lathe you will be wanting a milling machine. The two go hand in hand on so many projects. Sometimes you can go so far in turning a piece, then the piece needs to be faced, a slot cut, bored, etc. Same with a mill....you do a few steps in the mill then some final work needs to be done in a lathe.
Enjoy: Clifford