I've chosen a JET 1220 as the starting point for the hardware. The main reason I rejected the JET 1014 was that I wanted the extra inch of height for the XZ stage and I wanted a longer bed so that I could easily slide the XZ stage out of the way for plain turning. Also, the 1220 has a sufficiently powerful motor that you can actually do much of your plain turning on this lathe.
I've heard some reports that the spindle on the 1014 is not very accurate, but I've had no experience on that. I can say that putting a MT2 arbor in my 1220 gives exceptionally good accuracy.
Mine does not have the variable speed option. The only time I miss the variable speed option is when I need to reduce the speed for sanding. The left side trap door access to the JET 1220 belts is really a pain. I would welcome a modification that made it more convenient (like the back trap door which is spring-loaded).