I agree w/ Gordon... spend a little more up front. It will reward you later.This lathe is not suitable for bowls. The minimum speed of 600 is way too fast for 16" capacity bowls. A 16" bowl at 600 rpm is equivalent to 28.57 miles per hour. A slight off balance blank would make the lathe jump and shake. You don't want a 28 MPH blank coming off the lathe and hit you. That can be fatal. It is too fast even for well balanced blank.
Jet lathe has a 5 year warranty, that is 4 years more than a Grizzly. You may have to pay a little more up front; that can be saving at the end. They build quality products and have the confidence to stand behind them.