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From my limited experience with a small chinese lathe which has been surprisingly useful.
Bigger is always better, seems to be a bit more robust and capable obviously and it's never big enough, there will always be something that is just outside the swing or length.
As a hobbyist your duty cycle will be quite low compared to engineering shop requirements. If you take care of it a Taiwanese or Chinse will probably still outlast you.
Myfords and Hercus's are great but bloody heavy !! Also old and if not well maintained can be in worse condition than a new small lathe from anywhere. Bed wear, half nuts worn etc etc.
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