I haven't used or seen a PM1022V but I have been very happy with my G0602. It is a great starter for learning. Although there are features I am wishing that it had since I have gotten more experience, such as power cross slide and the ability to have the saddle travel away from the head stock while the spindle stills the same direction. I don't have an left handed threads to cut now or foresee any anytime soon but it would be nice to if needed.
All in all working within it's ability I am happy. To put it another way, if I got a lathe that would be bigger and do more, I wouldn't want to get rid of this one.
Durwood