I don't regret buying my Hudy Advanced Lathe. I buy carbide bits for $3 ea. online, and they're identical to the carbide bits that come with the high-end lathes.
As for motor break-in, the ICE sweet. If you don't already have a charger, the ICE is an excellent choice.
The downside is that this combo will run you about $260 total. If you have the cash, it's money well spent.
RC10B4.2: ESC TBD / Motor TBD / Savox 1251MG