That old addage, "You get what you pay for" comes to mind... 800$ sounds like a dream price for a 14" lathe. You say you won't be in a hurry, that'll change within 10 minutes of having to run a lathe at 50rpm's. Save your money, or get a loan for 10k, and buy a decent gear drive, good quality lathe. Tooling will run you upwards of a grand for holders and bits and cutters and live centers and measuring tools. Fork over the money now for a decent piece of equipment or pay 3X as much over the next year fixing and replacing broken or missing pieces that are impossible to find because your trying to get them for a dinosaur. Just my .02
Jet lathes makes machines from 3" chuck all the way to 14". They have helical cut metal gearing and tapered head bearings and run on 220/230V power. That, and the fact that replacement and additional accessory parts are easy to come by. I'm not saying they're the best out there, not by a long shot, but unless you'e wanting to shave off 1/2" at a time on a part that weighs 800lbs (I've done this) It's decent quality for a decent price. This is just one of their mid/large size machines.
http://www.google.com/shopping/product/7570090423105380034?q=jet+lathes&safe=off&client=safari&rls=en&bav=on.2,or.r_cp.r_qf.&bvm=bv.59568121,d.cGU,pv.xjs.s.en_US.1EneOJbgwUk.O&biw=1280&bih=680&tch=1&ech=1&psi=0sDaUsvAA8vvoATD2YKoCA.1390067922794.3&ei=5cDaUq3cMMzyoATSsoAY&ved=0CPkBEKYrMAg