As it happens I have a friend who has been looking at this lathe during last week and asked me for info since I had a Chinese mini-lathe for 10 years and grew to like it a lot, making much of my first clock on it as well as lots of other items.
The current Warco version (mine was Chester 'Conquest) has several imporovements but leaves some of the meaninful 'design faults' unchanged……..I was more interested in turning stuff rather than making lathe improvements but during my time with it I did constantly have to bear in mind a few 'cons' in order to get the best out of it….
One of the main drawbacks with the mini-lathe is the poor top slide design which is both too flimsy and too thick…..I had to adjust the gib screws weekly at least and eventually did not really use the top slide except for the odd small taper etc. The 'Conquest' version was supplied with a specially thin QCTP very similar to this one from ARC….https://www.arceurotrade.co.uk/Catalogue/Machines-Accessories/Lathe-Accessories/Tool-Posts/SC4-Quick-Change-Tool-Post-Set………It worked reasonably well for me but would probably not please a purist one bit!
I see that the Warco version now has a handwheel on the leadscrew so one might be able to remove the top slide and replace with a block for most turning to good advantage. I think that Warco are a bit 'naughty' suggesting that this lathe has extras and kit since mini-lathes, including this one, never have much with them apart for a 3 jaw chuck….spanner and screw drivers etc are nice but easy to find in ones workshop, unlike 4 jaw, rests, faceplate etc.which are not supplied.
The other minor improvement that made a big difference to my machine was replacing the famous rubber feet with metal discs about 100mm in diameter…this reduced the rocking at high speeds considerably. There used to be much criticism of the plastic change wheels now changed to steel but I cut several tricky threads quite successfully using the plastic variety.