Shepard wrote:http://www.grizzly.com/products/Combo-Lathe-Mill/G9729
I have this machine, it sucks. I could go on for hours about it. If you are buying new and are serious about results, you should be prepared spend at least twice this on a dedicated lathe.
The 12x36 shep linked to looks descent. Bear in mind 30 different companies order machines from 3 different chinese plants, the difference is usually little more than colors and stickers. Shop around and consider customer service in your decision.
If you are on a budget I would advise watching craigslist.