I've got a Bridgeport and large lathe still out back from the old engine building days. Handy tools to have around for a rainy day but there is a steep learning curve and especially early on you'll be hard pressed to turn out anything in a decent amount of time. You can drop a lot of money just in tooling and depending how large a machine you get there is also the expense of moving it and power distribution. Ours are three phase running off a phase converter box hooked to a large electric motor to pick up the last leg (no idea how this works exactly, but it does). If you are looking to make small parts for guitars it would probably be cheaper and faster to have someone else turn them out for you.