I have had a Myford ML8 for over 30 years. Very well built and very expensive when new. British made, of course, and built to a specification not a price. You can get more features on a new lathe but affordable new lathes are likely to be far east imports of dubious build quality. For instance the hobby range of Axminster machinery has a recommended maximum usage of 100 hours annually, with few ( if any) periods of continuous use. I think an old ML8 will outlast one of these many times over. As I said, I have had one for over 30 years and it was old when I bought it ( it is yellow so one of the earliest models). I have upgraded to a Viceroy now so regrettably am going to sell the myford, but I fully expect it to go on for years and years again.
So, if you will be happy with a basic but solid lathe then probably you won't regret buying the ML8. Just remember it is an old design with it's limitations. On the other hand if you want the convenience of a rotating headstock ( so you don't need differently threaded accessories), variable speed with digital readout etc then a more modern lathe would suit you better as long as you aware of the build quality or can afford to spend serious money. Of course you could always change the motor of the ML8 to 3 phase and use an inverter to get variable speed.
I would point out though that you need to ensure the lathe is complete because missing accessories soon push the overall price up. Faceplates go for around £20, tailstock for £40 - £60, then there's the tool rest / banjo / rear turning bits / motor mounting plate etc.
K