Hi Curt:
Our shop here is tiny, it is a smaller than average one car garage. With some clever layout, I have been able to squeeze in a 9x20 Jet lathe, a minimill from Grizzly, a 14 inch Grizzly bandsaw with a riser so that we can resaw a 12 inch wide board, a 9 inch bandsaw, a tabletop drill press, a tabletop disk belt sander, 2 pedestal grinders one equipped with a slow speed wet well and polishing equipment, A Ryobi BT3100 table saw with sliding miter table and a DeWalt router mounted in one wing, Ryobi oscilating spindle sander, Delta 12 inch thickness planer, Rigid 6 inch jointuh, 2 scroll saws, a bunch of portable power tools, a roll away tool chest, a machinist top box and enough hand tools so that we can do anything with hand tools that we can do with power tools. This may seem like a lot to put into a smaller than average one car garage, but consider that before moving to this house in April, all of this stuff was in a bedroom in an apartment and it all ran except the table saw and thickness planer and jointuh which were too noisy. Now having a smaller than average one car garage to work in seems relatively roomy. We can usually have two or three guys working at the same time without too many "scuse me's".
I can highly recommend the Jet/Grizzly/Harbor Freight/Enco/Cummins 9x20/9x19/9x18 lathes, They can handle all of the operations required in cameramaking including the milling if you build a milling attachment. The lathes are all identical and the parts do interchange.
I can recommend the various 7x10 size mini lathes available from the same group by reputation only. I have not used them. I have looked at them up close in the store and they look limited but ok. The price is amazingly good, but not as good as the 9x20 which in my opinion is the best machine tool bargain ever.
Before you buy, you should check out our machining groups on Yahoo.
http://groups.yahoo.com/group/GrizHFMinimill/
http://groups.yahoo.com/group/Lathe9X20/?yguid=20166694
If you are leaning toward a mini lathe check out
http://groups.yahoo.com/group/7x10minilathe/?yguid=20166694
Hope this helps.