I finally talked myself into ordering a mini-mill and mini-lathe for my shop.  I'd like to be able to do some radical things to my 1911's like cutting dovetails and milling the frame for the grip safety.  

I'd also like to begin some of the 80% receiver projects that are outlined on www.roderuscustom.tzo.com.  

The mill was the Grizzly mini-mill, and the lathe is the Harbor Freight mini-lathe.  

Welcome to this side of the fence.  Years ago I purchased one of the table top lathes of which you speak.  In addition to Roderus, there are sites that deal specifically with that small lathe and aids you in making it really useful.  Try Varmint Al's site.
I also belong to Roderus site.  Same name.  I am a machinist by trade and still enjoy working on my own firearms.  Good luck and get some good use out of them.