After a few hours of reading and searching and reading some more I have yet to find an answer to what I have asked many a machinist. Why buy a new $13,000 South-Bend when I can buy a 30 year old South-Bend of the same size for half the price? (All things being equal.)Have lathes really changed so much in the past generation to merit the price increase of buying new Vs. used?
Lathes will last a long time if they are not used much
. So age doesn't really mean anything, and I'd agree, that a 30 year old lathe is quite likely the functional equivalent of a brand new one, of the same make.
My two main manual lathes, both Summits, are 38 years old and I still think of them as near new (one I did buy brand new). They've got thousands of hours on and only have a trace of bed wear near the headstock (hardened bed way bars). Still cut as well, and as straight as they ever did. It is my understanding that brand new Summits may not even be as well made, or have less functional headstocks and quickchange gearboxes. A lathe like mine cost $30K equipped, 38 years ago, and was never considered to be top of the line. New budget lathes can be had for nearly the same price now, so, somewhere, something has likely been sacrificed in quality.
Engineers years ago knew already how to design a good quick change gearbox capable of cutting metric, inch, diametral and module threads. This is the type of thing that they will cut corners on to make a new lathe cheaper. So, beware. The few bucks you save now you may be cursing later as you redo and redo and redo the same gear changeovers to do something that should have been designed in for operator convenience.
Hardened bed ways are your best insurance for longevity of a functional lathe, so a new one has that potential advantage. An old lathe needs to be examined critically for bed wear, and I'd take a test cut with it, to see how straight it turned, or more importantly, how straight it could bore a hole for a depth of 4 inches or so.