Small Bridgeport, $800. On Craigslist.

That's an old Brown & Sharpe No. 2 universal mill, early 1910's or younger, gutted, with the Bridgeport M head. If anyone cares to know....
 
If it where close enough to me I would check it out. As has been said it would beat any thing new in that price range.
 
as always, that depends on if you have another $400-1200 and if you can find a BP for even $2000 where you live. Something else to think about is how much tooling that $1200 might get you, or even a lathe to go with it..
 
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