I never did answer the original question, though.
I'd take the mythical $12K and go looking for the best Schaublin 135 that I could find. If you ever get to run one, or better even (but less affordable) a Schaublin 150, you'll know why.

Hard to go back to pine cones!
For a tooled up 135 I would happily trade off almost all the rest of my lathes. A well tooled up 150 in good shape, would equate to a lottery win, both in likelihood and in how it would change my shop.
Back to reality...<sigh>...
Don't be dissing the RF-30/RF-31 Mill-Drill machines, as a useful tool. Kinda half-arsed as a milling machine, but you can do good work on one, but about as good as any drill press available anywhere, and with a cross slide table built right in. Thomas Skinner in Edmonton told me they sold a lot of them to commercial shops to be used as a drill rather than a mill, to the extent that they only stocked a model with a taller than normal column, to allow some headroom when a decent sized drill bit is used. Yes they lose index when you have to raise or lower the head.OK. For most of the work you will do with a machine like that, it makes no difference, as, mainly, you will be dong scribe a line, cut to the line milling, to make a single part, rather than trying to use production methods. Once you learn to use an edge finder or wiggler, you get over the fuss pretty quickly.
If you ever get a chance to use any really decent (unaffordable new, now) drill presses, compared to the CTire type cheapo stuff, it becomes pretty apparent that they are worlds apart.
I've used a rocker tool post plenty, per guntech above, but prefer my quick change tool holders for convenience sake. Detest the four way rotating tool posts though, as I seem to always be cutting the back of my hand on the tool that is closest to the front when going in to measure the work. I have a Dickson type post for my two largest lathes, and am building a clone of a Tripan type for my Myford. If I were to go buy a QC post again, I would look pretty darn hard at the 40 position Multifix clones that are available on Ebay for a great deal less than the real thing. They are getting some good reviews. You will find that to have 5 or so tool holders with a couple favorite tools loaded up make it pretty easy to walk up too the lath and go. Being able to quickly switch from turning, boring, threading, and parting off, with a minimum of fuss, has a lot to say for itself. Try to remember that the reason for having it in the first place is to avoid having to dink around with the tool post every time you change tools, so learn to set it up square to the work so you can either smack a boring tool down the bore, or part off cleanly, without having to adjust it each time, else you may just as well not spend the money.
If you are not yet aware of it, check out the machine tool archives at
www.lathes.co.uk. Good reference material, and the guy that owns it makes some money selling copies of the literature for various machines. Handy place to get an idea of what you may be going to see, if you don't recognize the name.
Cheers
Trev