I am looking at price range here of approx.$5400 to $7400 for what

In that price range you sould be able to find a prestine well tooled
lathe. I recommend you hook up with a machinery dealer and tell them
what you want. I have bought several macnines from Dick Tremestra(sp)
in Detroit and he will find what I want and delivery it to Chicago.
I might pay a little more, but I get GOOD stuff.

chuck