Russell,
If you can afford a bit extra, you should consider a Super 7 rather than an ML7. It has several advantages; from memory: better headstock bearings, a much superior topslide, a longer cross-slide, and a leadscrew handwheel (which is an order of magnitude more accurate than using the saddle handwheel for precise turning to a shoulder). Probably others I have forgotten. Some of these improvements can be retro-fitted to an ML7, if you can find the bits, but by then you would probably have paid more than the price of a Super 7.
David (happy user of a Super 7 for 30 years)
Edited By David Littlewood on 11/02/2012 19:17:36