yeah, the tooling and accessories are what get you. Littlemachineshop.com has seen more of my $$$ than homier did form my lathe. I was talking to my dad, who is a machinist by trade, and he recommends that for the kind of work we do, buy high speed steel tools when you can. They will take a sharper end so require less pressure to cut (although they wear faster...not a big issue with aluminum tho) and they don't tear up your grinder like carbide does.
As far as recommendations when buying a lathe, I think for flashlights any of the mini lathes will do about the same job. The harbor frieght, and homier seem to have about the same fit and finish. The micromark from what I understand seems to be a bit better quality, and has the nice DRO for RPM as well as the longer carriage and the .050 dials.
The tooling is really important or you won't be doing any cutting (would recomend several blanks if you want to grind your own or pick up pre ground ones), as well as getting a larger chuck, as the thru hole of the stock on is only about 5/8, not even big enough for a mini mag to fit through. The 4 inch 4 jaw is nice, and you can manually center the work also if you need to. You will also need to get a chuck and live center for the tail stock of the lathe. You will need a grinder, and probably a good set of calipers. Eventually you will probably want to get a full set of Numbered and 64th drills, as well as a boring bar. Whew, I need to start taking more breaths and adding more punctuation /ubbthreads/images/graemlins/smile.gif
Good luck on your purchase.