For the price I think the Model B is pretty good. I have skimmed brake disks with it with good results.
It does however, have its drawbacks. As you say, one of its attractions is its 8" + centre height but if you plan on turning anything that big, you really need a back-gear to allow you to run it at the right speed and with the necessary torque. The Model B doesn't have one. I have a VFD on mine which allows it to run down to about 50 rpm but doesn't provide the additional torque you would get with a back gear. Skimming brake disks or turning large flywheels tends to be a slow operation as a result.
The mill/drill bit is (typical to 3 in 1 machines) not that useful because of the limited saddle cross feed. As I have two other milling machines, I've never bothered to use it.
The other drawbacks IMO are the lack of bi-directional lead-screw for the power feed and having no cross-feed.
Overall though it is a very useful machine, especially at less than £600.
I've kept mine for the bigger stuff and have bought a good 'ole ML7 for day to day machining (which has all of the attributes missing from the Model B but, comparatively speaking, a limited centre height).
I hope it helps
Mark