B Thomas wrote: I am inexperienced at metalworking and would like to get
into it (clip)
^^^^^^^^^^^^^
Your letter makes it clear that you really are starting out from scratch,
both in shop setup and experience. A number of others have suggested that
it is possible, with a lot of effort, to upgrade cheap machine tools to make
them perform well. I am sure this is true, but it seems to me that by
opting for cheap tools while you are just learning, you are making it more
difficult for yourself. A person who already knows a bit about machining
can recgonize the shortcomings of a tool, and find ways to make
improvements, or to work around them. If you are as "green" (no offense
intended) as you say you are, the junky tools will just make it harder to do
good work, and you will not be able to sort out the causes.

Second, you are setting a pretty high goal for a beginner. Building model
engines from scratch requires a high degree of precision.

Third, I do not know whether you recognize that the investment in the basic
power tools is not the end of your costs. In fact, it is just a beginning.
Add the drawers full of chucks, micrometers, cutting tools, reamers, drills,
on and on--you could easily double your investment.

I suggest that you take a few classes at night before you spend a dime.
Then you'll have a better idea of what you will need, and what it will take
to satisfy you.