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Pretty much ditto what T_Bone said with a couple exceptions. If you really like the MIG side and you're doing most sheet metal (IE: >1/4" thick), you may want to look at the Century or Campbell-Hausfeld brand machines. Despite their relativley cheap price, they do a decent job on non-industrial type projects. Doing hobby type work, you need not put a lot of emphasis on duty cycle or versatility as you are not trying to meet a production schedule such as I do. For my applications, a grand does not even come close to making a down payment on a power source let alone all the other required items to make it work ready. I've used some of these small machines and they do weld nice if kept within their capabilities and duty cycles. As for price, you could tie up about the same cost in a small AC/DC stick machine that would have the same limitations as the smaller migs. Using wire such as Esab core-shield 11 (self shielding flux core) will do a nice job on sheet steel down to 20 ga. On the heavier side, a machine that will give you around 175 amps output will do a decent job on say 1/4". This is where the duty cycle comes into play. Running at max output on the machine will mean doing shorter beads and allowing the machine to cool between runs. It all depends upon what you expect from the machine as to determine the correct size and type of machine you need. All machines have their limits as does everyone's wallets. If you are also planning on using this machine to make repairs to equipment that makes you money, then you should look at getting the largest and best machine you can. I like Miller machines myself but I make my living with them. The Millermatic 250 is an excellent medium duty machine that does equally good welds on 26 ga with .023" solid wire as it does on 1/2" plate with .045" dual shield wire. It is still limited to a 60% duty cycle at 250 amp output. On the other hand, a decent AC/DC stick machine will afford you the option of using scrach start tig or adding a voltage sensing wire feeder later on but these add-ons also come at a price as well.
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