If, and I mean if your Smith knows what to look for there are some great deals to be had in the used market.
I would never drop $5K into a Grizzly machine and associated tooling. I would much rather hold out for a Clausing, South Bend or other QUALITY machine.
You get what you pay for.
My background is as a machinist, I can pick up the nuances of a decent machine and a junk machine. We have a Grizzly at my work and it is horrible compared to the Clausing we have and the Grizzly is only 2 years old and seen light use. I will not trust it for accuracy and repeatability, the bed is not Meehanite and the entire machine is about as flexible as a wet noodle IMHO.
I picked up an Atrump 1340 machine for $2k on CL with a good pile of tooling. I have turned hundreds of barrels and have yet to be disappointed with any aspect of it.
The Grizzly is OK for a garage hobbyist but if you are wanting to make money with it invest in a quality lathe that is rigid and a proven machine.
I look at Grizzly like I look at a Taurus firearm:
Inexpensive machine that will do the job with a great warranty and customer service.
But it is also a frequently used warranty and the customer service is decent because it is needed to deal with the product issues.
Think about this- how many 5, 10, 15 year old Grizzlies are out there that still turn with the accuracy, rigidity and smoothness of a 40 year old South Bend, Clausing, Casanueve, Summit, Sharp, MoriSeiki and the like?
Buy once, cry once.