I use a Sherline lathe with the milling column, this way I have both a mill and a lathe. If you want to go crazy you can also go CNC.
Another very happy Sherline user here.
I started with what rrjim1 has (that was about 40 years ago), then slowly kept adding accessories. At this point I have a complete lather and a complete mill. What's nice about Sherline is that they work with you to get you to where you want to be.
For example, I didn't have to buy the complete milling machine. I sent in the vertical milling column I was using with my lathe to be modified by Sherline to fit the milling machine base. Then I purchased just the headstock/motor assembly and the milling machine base. Then after assembling these components I had a full standalone milling machine.
It is not a Bridgeport or a Grizzly, but it can still easily do all the machining I need (just using lighter cuts).