I did something similar a few years back and bought a combined lathe and mill (only a Clarke, but reasonable quality and small and light enough to fit in my shed).
Hours of endless fun creating swarf, but has proved invaluable at producing washers and spacers for my various collection of bikes
Haven't bothered with cutting threads - by the time I'd set all the gears up properly, I could have run a die down it. However I am tempted by a bit of knurling now!
