I agree with Bob - particularly about the fact that in time you will inevitably feel you want to turn other things in addition to pens. By all accounts the Precision Pro is a great little lathe, but it's going to severely limit you in the future if you want to diversify.
Someone was asking a similar question a short while ago - this is more or less what I said to him:
Turning can be a pretty deep rabbit hole, so you need to make sure you're buying the right things for the right reasons. The best lathe is going to be dependent on what you see yourself needing from it, therefore what suits one person may not necessarily suit another. To help decide on a lathe, I would say though that you ought to set yourself a brief of things that it simply must have, which for me would have to include electronic variable speed control, and hollow quills in the tail and head stock. The best advice I can give you though would be to see if there is a local woodturning club that you can pop along to. The members there will be able to help you make sense of all the different aspects of a lathe, so you can more easily work out what features you'd like it to have, and which ones are just gimmicks.
