Cali-
Don't be so quick to give up your machine. The NEW Singers suck, as a rule. The old ones are prized by many on this board. I have a 1953 Singer 15-91 that is a total workhorse, and a Japanese made 1961 atlas that i also love.
While you may want the bells and whistles of a newer machine, and the computer stuff, your machine will be stitching long after their plastic parts and computer chips have gone to the big graveyard.
There is a thread here for Vintage machines- Billy, (Lostn51) can tell you lots about your machine, if you have the serial number. Check out the thread
http://www.quiltingboard.com/t-43881-1.htm
There are over 500 pages, so reading it all is crazy, but post at the end. Do you know what model you have? Some are highly sought!
And my 53 has a zig-zagger and all kinds of things. I also have a Juki straight stitch machine, and a really cheap Brother that I only use for applique stitches.
You will get all kinds of advice here- each person loves their own machines. My advice is to stick with yours for a bit longer, and figure out what you want to do with your new machine. For instance, I like to piece and machine quilt, but I am not big on embroidery or lots of fancy stitches, so therefore, when I made my big purchase, it was a straight stitch machine ideal for free-motion quilting. For others, they use the embroidery feature on their machines. Be careful not to buy something dazzling, that you might find yourself not using.
Welcome to the board!