I have had the Grizzly 12x36" G4003 (I think it's probably their most popular and common metal lathe) since 2000. In all that time, the only problem I ever had with it was a motor overload protection module went out recently. Grizzly support was good at helping resolve the issue. For the money, I don't think you can beat it. There's also a "gunsmith" G4003G version, which is $1000 more, has a 0.010" larger bore, spider mount (I made my own with a drill and a tap), claimed better bearings, and claimed shipping weight is about 300 pounds more. I don't know what the additional weight is from, as all the other specs seem to be the same as the G4003.
I have seen the PM, mainly heavily promoted in YouTube videos by a guy called gavintoobe and his Ultimate Reloader channel. To me, the PM looked about like the G4003 and seemed to me to be essentially the same lathe as the G4003/G4003G for about the same money. I think he got the PM either free or discounted in exchange for promoting it.
Another nice thing about the G4003 is that, in a world of frequently discontinued models, the G4003 has stood the test of time and has been available for many years, and probably will remain so for many more. I have many Grizzly machines, and never any problems with any of them. Excellent USA customer service, too. Back when I bought my G4003, the manual for it was poor, B&W, and very skimpy. They say their new manuals are all full color and written by Americans.
And yes, you will end up with more (perhaps considerably more) in tooling than in your machine
I also recently put a DRO on both my G4003 and a few years ago on my Grizzly mill. I HIGHLY recommend them. Source is
https://www.dropros.com/
Easy installation, with outstanding directions, both written and videos, all done by Americans in real American English. Excellent customer service. It greatly improved my accuracy and ease of use on both machines.
And finally, here's an excellent video about the founder of Grizzly. A true American success story and a fascinating and talented person: