You can still buy Colchesters, but expect to pay 4 or 5 times as much as for the equivalent import.
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For a training facility, a good quality import is the best bet really; lowish cost, spares backup and a shiny new machine is always easier to learn on than one with sloppy ways, although that's a learning experience in itself. Chuck rash on the ways and the tool post will be a bigger problem than wear in this instance.
The Glasgow College of Nautical Studies bought 6 universal mills and 6 lathes from these chaps a couple of years ago
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AFAIK the only problems they have had is with the switchgear on a couple of the lathes; the control buttons stopped working and it took a dog's age for replacements to arrive, and there was no prospect of replacing just one button as the thing was a unitary 'no user servicable parts within' job.