Metal is just like wood, only a bit harder. :) As I said I have a small 7X14 lathe, and I've turned out some really nice work on it. Actually, I've found it to be a handy thing to have around. In a way it's been kind of a PITA, because everytime something around the house needs to be fixed and I can't find the right part, my says something like, "can't you just make one?"

The learning curve really depends on the person. If you have a good understanding of power tools in general and have done some sort of do-it-yourself work, it doesn't take long to learn to use a lathe or mill. I was doing external threads on the second day that I had my lathe.

You can do some reading up at www.mini-lathe.com and there is also a link on that page to a similar page geared toward the mini mill. You can also check out www.littlemachineshop.com

I also order a lot of my stock from onlinemetals.com They will take the smallest of orders and ship pretty quickly. You might also want to get to know the Enco (and its parent comparny, can't remember the name) catalogue.

The important to know is that getting the piece of equipment is only the first step. I spent more than the cost of the mill on tooling. I'd suggest at least a decent set of indexable tooling for a lathe and a good set of collets and endmills for a mill, along with the necessary hold down hardware.