I was given a Taiwan built lathe, a Southbend copy. It was purchased new for my neighbours business but none of his employees would use it due to its tendency to always cut on a taper ( about 20 thou per foot!)
A machinist friend gave me over the phone instructions on how to adjust the head stock relative to the bed( also in the operator's manual) and now it cuts true to within one half thou per foot.
It's 30 years old but in as new condition because the employees turned their noses up and wouldn't use it, or put any effort into sorting it because of where it was built.
So it's a little beauty to run especially after I fitted a DRO to it.
I have a big Monarch lathe as well for heavy work, but still use the little Taiwan lathe for all kinds of MC work.
I had better include some Electronic Ignition info in this post. Ei is great if you can find a truly reliable 12 Volt charging source.
For timing, the slickest I have encountered is Pazon Smartfire. Put Piston at TDC compression stroke then rotate the Pazon ignition plate until the LED light turns off.
Amazingly, it works perfectly.
Glen