The problem for most "HOME" shops is that the REAL machines are 3 phase - and or can be industrial voltages. Then they require all manor of extra stuff to fire 'em up such as converters etc. Then the issue also becomes space as even the smaller industrial equipment is large -- and HEAVY.
However --- I couldn't agree more about your chinese sentiments and buying a good old used version over a cheap azz new one.
I will say -- owning a mill/drill (2 hp single phase Jet) that this is quite the handy machine and the drill press has been relegated to a shelf ever since.... but to call it a "mill" is just sorta wrong. It's really just a super nice drill press. Yes it will 'mill' off some material -- and frankly -- works great for what most home hot rodders are going to be capable of - which is - making a part fit by taking a bit off etc. No way would I make a part with it although I could if I wanted to spend the time. Most of our parts are not down to the 10 thousandths. What it's best at - because of the X Y axis - is to do super accurate holes (drilling or with roto bits... or to slot something etc.
I'd far prefer to own a nice old Bridgeport!
Two best machines in my shed are the Burr Kings... compare these two machines to the "attachment" I bought for a buddy because he helped me on a project -- that turns a bench grinder into a 2" belt grinder...
http://www.trick-tools.com/Multitool...1#.UTNk4KUlswE
and it's just OMG are you kidding me. Still.... if it's all ya got - it will work. There is a substantial difference in cost. I personally have the dime and the space to buy what I want - and view it as an "investment in my hobby". I totally get that most aren't so lucky with either the space or being able to pizz away a couple grand on a single machine. There's so many of them that we "need"!
The Burr Kings I referenced..... Just so people not familiar can see what I'm talking about. Below that is the Jet Mill/ Drill