As Warco say it's a 'budget' machine. It's cheaper than a mini-lathe but as said the lack of half nuts mean rapid saddle moves mean a lot of handle winding or doing them under power.
It also has a very basic top slide, a mini-lathe is probably a better bet for you if you can fit it in.
You probably looked at the 350/400mm mini-lathes.
An SC2 300 type mini lathe (12" between centres) is only 40mm longer than the WM150.
There are still 10" between centres mini-lathes out there if you search really hard, Warco used to sell them until recently. They are cramped once you put a long drill in the tailstock but would be a good solution if you are really short of space. It might be worth you contacting them to see if they still have one 'round the back'.