I have both a mid-size Myford lathe (11 1/2" throw) and a 'small' lathe (8" throw). I always wanted a mini, but I can do 98% of what a mini can do. It's just that a mini fits in such a small space.

Yes, you can turn hard woods on a metal lathe...or on any small lathe. In many ways, hard woods are easier to turn than soft woods, in that they are more stable and cut cleanly and are easier to sand (generally). Ebony can be very nasty, as it is like turning pure carbon...black dust and such--wear a mask!

In England, I'd try to get some Yew or Boxwood to play with....both pretty hard and attractive.

If you are going to turn stuff other than between centers, get all the chucks and faceplates you can afford.

(I've been turning for 22 1/2 years...I do 4-5 craft shows a year. Always willing to share info on lathes, tools, wood...etc.)