The PM1228 is a Sieg SC10, it is the larger cousin of the SC8 sold by DroPros.
I have an SC8 that I purchased months ago that I finally was able to get up on the bench and cleaned 3 weeks ago.
I still plan to do an in depth review of the lathe here after I get back from vacation in several weeks.
There are a lot of very good points about the SC8, but the speed controller is not one of them.
As a person who routinely removes guards from my machinery, I regard the speed controller on the Sieg as a serious safety issue.
There is no way to change the speed before start up. So, if for example, you decide to clamp some irregular object to the faceplate, run the lathe with out the faceplate to make sure the speed is not sitting at 2000 RPM. It spins up pretty fast and the controller is very slow to operate.
The PM1228 is still probably a better route to go if you plan to move a chuck from the lathe to the mill, then back to the lathe again. There is no taper on the SC8, and I assume no taper on the PM1127. The SC8 chuck fits loose enough that you can just feel the play between the spindle nose and the chuck, so it will never go back on where you took it off. On the other hand, the D-8 spindle on the SC10 is expensive, and the Morris taper appears to be very true on the SC8.
I plan to replace the speed controller with knobs as soon as I can get around to researching it. Not only do I distrust the reliability, it is a true safety hazard, inconvenient, and irritating. I regard it as nothing more than a sales gimmick. If you buy the SC8 or SC10 (PM1228), I suggest you make plans to retrofit something with knobs immediately. It might be possible to add a "set to 100rpm" button, dunno.
The speed sensor is on the motor itself, not the spindle, so you can get slower or faster speeds by replacing the sheaves, which I also plan to do. The spindle sheave on mine has nearly 1/8" of wobble. It appears that there is enough room and the tensioner roller is wide enough to make replacement step pulleys that are +/-30% or so from factory, which would expand the speed range to 70 - 2600, slow enough for threading to a shoulder and fast enough for carbide tooling.
Sorry I have been too busy lately to get the lathe up and running and write the review. I will also make a thread on the inexpensive and very sturdy bench I made for it. Like I said, there is some very good things about the Sieg SC8 (and some are shared with the SC10), and a few bad things.