Jeks - You were batting 1000 until you threw in the combo machine - they are usually a PITA...
I have converted the small HF lathe you pictured to CNC and I have a larger conventional. The small lathe pictured would be all somebody would need to do watch related stuff like bezels, movement spacers, etc. The small mill would be very nice for CG work, lug holes, etc.
The sneaky part about machine tools is you almost have to spend as much on tooling as you did for the machine!