I have the Harbor Freight version of that lathe, at least it looks the same. They are all made in the same factory in China, and are rebadged by various companies.
Mine has a 12" bed. You have to be aware of the limitations of such a small machine, but it is fine for pens.
You won't be making anything huge on it, but you also don't need a crane to get it into your house!
You will probably read a lot of negative stuff about these lathes, but this is usually from people who don't own one and have an aversion to Chinese products.
I am absolutely delighted with mine. Best $500 I ever spent.
You probably already found this site, but I'll give you the link just in case:http://www.mini-lathe.com/
Edit: and yes, mine can cut threads.
Edited by Jamesbeat, 21 March 2015 - 14:01.