Scrapple,
It is always an uplift to see folks entering the hobby of model engineering , My thoughts are that to begin with a mini lathe & mini mill , you can build up your skill level (Even if you can build a small and simple engine first, I am not acquint with the upshur engine, but I think the James Coombes is a bit large for the extremely small machines you mention, If you could make contact with model engineers near you, Someone miight mentor you on any machine tool which may appear second hand, to save money, But one must be careful that one is not "buying a pig in a poke"
I always work on the factors of , Can I afford what I am looking towards purchasing, Do I have the space for it, and will the wife/partner be sympathetic/
Another thought is , Is my new machine capable of being man enough & of a size to machine my components
For the general model engineer a lathe of 7" swing is ideal, I always think South Bend or Myford, If you can afford to by all means buy your little mini machines, Even if you eventually purchase bigger , they are always ideal for the occasional weeny component
Many years ago I started my home shop by purchasing an ancient 3&1/2" centre height lathe not in great health But it was a steep learning curve to keep up accuracy.
Many years ago an old engineering works director, councelled me by saying huge is not beautiful , (Unless your passion is saving old iron) As i get older I find myself thinking how right the old boy was, Recently I have started overhauling a little 1950 era lathe I guess it is a step back down memory lane .