I appreciate the inputs on my decision, however I decided to go this route because I came across this video by Vincent Rolfe on youtube. He builds some pretty nice things and is using this setup. He clamps a backup bar, where I want to build a heavy fence, but in any case he makes it look quite doable. Given the consideration in the rest of his work, I'm going to go out on a limb and say that he's likely got this machine setup well for this.
Mike, I've looked into old iron and I've yet to see anything coming up for less than $2500 that looks like something I'd like to actually invest in before restoration. Add to that I have a scarcity in the way of floor space, which I'm prioritizing to a spindle molder and a Maka eventually. This setup does use chisel and auger.
David, that machine is pretty badass.
Patrick, I'd like to add another machine but not something I can really consider in my current space. Appreciate the suggestion, and a nice one at that but that will have to wait for a day when I have larger square footage.