I was just looking at that in their store last Thursday. For a guy that wants to cut some slots with and endmill every once in a while it's not a bad tool. There is another version that does lathe stuff too that might be better.
I've had really good luck with Harbor Freight tools. Granted it's not top of the line stuff, but it's near the top. Especially for the prices. You get 80% of the quality for 10% of the price of highend stuff. If it's something that you are going to use day in and day out, then you're ahead to go with highend stuff. But for occasional use, HF stuff is great!!!!!!!
BELIEVE ME WHEN I SAY THIS - You want as big a tool as you can afford!
You say it doesn't seem like a big deal, but when you are spending all of your time truing up your work, you will really regret that small size. Additionally, you'll have a smaller motor that will quickly begin to feel underpowered.
Case in point - I got the 7x10 mini-lathe and already regret not getting the 7x14 or whatever it is. While adequate, the travel on the mini-lathe is barely enough to do anything longer than about an 8" setup. Compounding this is that while the lathe has a pass-through spindle, the size is 5/8". I considered this adequate if ever I had to to barrel work, but already I've discovered the Suomi barrel I was going to use for the Bizon project won't fit. So guess what - I can't turn down the Suomi barrel. NOW I wish I would have ponied up the extra bucks, because I don't want to discard my $400 mini-lathe just to upgrade to the next higher size.
That said, I like my mini-mill. I would not want to go smaller, however.
If you MUST get a multitool, then go for it, but I would recommend against it. If you have to go between the lathe and mill, you'll be spending all your time setting up. It isn't as easy as swapping drill bits... the lathe spindle is in the way of the mill, so you have to disassemble the lathe to get to the mill. Then you have to reassemble the lathe and true it up before you use it.
Way back when, I was looking at the Smithy multi-tool that runs about $1300. On that model mill, the lathe spindle is not in the way of the mill, so you can do both lathe and mill work at the same time. Add to that, you have somewhat of a milling attachment to the lathe. Makes certain types of work a bit easier, but still not the best setup.
Just bite the bullet and pony up the cash! You won't regret having a bigger mill.