The 10EE that I recommended to him is much newer than mine. It is called a modular machine Mine is a WIAD unit. Mine runs perfectly and I'm lucky to have extra tubes if they are ever needed. The only way you can chamber in the headstock is to machine precision bushings to fit in the spindle to slide your barrel blank into. I don't use mine for chambering and the OP has a lathe already that will work great for chambering.
Greg, if you have a good one, it will last you a lifetime. They are heavy, extremely accurate, and can make a heavy cut. The variable speed drive will allow mine to go from around 40rpm to 4000 rpm with full torque. They come with 50 millionths bearings in the headstock.
The Practical Machinest has a great forum on these machines and a tremendous amount of knowledge for anybody that needs any kind of help.
I believe Monarch will make your old machine like new for around $80,000.
