My Cobra lathe with the Cobra Diamond bit cuts better than any expensive lathe I have seen. I have buddies with Hudy's, Fantom's, etc. They cut fine but my Cobra is just as good or better for quite a few $$ less.
I second what Cypress said about Twister lathes. They are old, no longer made but they still cut the best. Whenever I see one I offer to buy it off the owner and they always say no.