A great, solid, medium-sized lathe at a great price with a lot of extras. I bought mine for gunsmithing and it works great. I find it very easy to use and I use it every day.
The geared headstock makes spindle speed changes easy and fast. Takes longer to calculate the spindle speed than it does to set it. My lathe shipped without oil in the headstock (but it had oil in the quick-change gearbox and saddle apron), so don't forget to check yours before use.
The quick-change gearbox is very intuitive after you use it once or twice, then you find yourself using it for every job. It's nice that it is sealed, making it pretty quiet (as lathe gearboxes go). The oil bath lubrication makes it fairly maintenance free during normal use and easy to do when an oil change is required. The oil sight glasses are nice for keeping tabs on its level and condition.
The end change-gears that connect the headstock to the quick change gearbox are good for a range of thread pitches and feed speeds. The ones that come installed are perfect for the most common inch threads and average feeds. They are easy to change (only two nuts to loosen and two bolts to remove) if you need other inch threads, metric threads, or a different feed rate. The first time you do that gear change, it takes about 15-minutes. After that, it's only about a 5-minute deal. Though this machine was made in China and uses metric fasteners, the leadscrew is a true-inch unit and not a metric unit that utilizes the change gears to get to inch threads.
The saddle and cross slide, compound rest, and the tailstock are all smooth operating and accurate in their movements. I wouldn't describe them as "like glass", but still very good. The bed, headstock and gearbox are all heavy, stable cast parts that are well machined and ground plus hardened where needed. The tool post is a nice 200-series quick-change, piston variety and comes with two toolholders, which is actually a pretty nice start. You'll buy many more, but it's nice that Grizzly included a few. The piston style tool post is not the latest technology in tool post design, but it still works great and has enough repeatable accuracy for the average home workshop or part-time machinist. I have no plans to replace mine.
The stand, though made of steel instead of being cast is a great component and is of high quality. Mine had a pretty nice finish. It is stable and up to the task. The anchor bolt holes, however, will be a little difficult to work with whether you use bolts, studs or mounting feet. There is limited clearance for a wrench, so you've only got about a 1/4th-of-a-turn or so per pull when tightening the nuts. The pull-out chip tray is easily my favorite feature of the stand. It is so much easier to clean up than without one. Foot brake is nice when you need it, but I have yet to use mine.
The DRO is almost a mandatory accessory, in my opinion. This one is very accurate and repeatable. I have learned to trust it far more than the handwheel graduations. I did adjust the precision down from millionths(!) to show only ten-thousandths. Works very good, but Grizzly needs to get someone who speaks English to re-write a true English version of the manual. Seems like it's been written in English by a Chinese editor who doesn't speak English very well.
The chucks and faceplate supplied with mine are fairly good units, though there are obviously much better available out there. You'll pay dearly for those. These Grizzly units seem pretty well made overall with good balance, little runout and decent repeatability. I took mine apart and basically rebuilt them, (which is not hard at all) because they needed a serious deburring, which kept them from feeling nice and smooth initially. All good now though.
All in all, I'd say an excellent buy at an amazing value.