I was in the same situation as you 15 years ago. I could not afford to continue to pay a longarmer to quilt my tops. Because of chronic shoulder problems using my DM was out of the question. So...I bought a used Proto Stitch Wizard and she was a workhorse and served me well. I started having some problems with it last fall and since the Proto company went out of business I was not able to find any parts or anyone who could service my machine. My oh my did I agonize over my dilemma since I am on the other end of my quilting journey (old lol). I started asking all the questions that you have floating around in your mind. I then sat down and figured out how many quilts I will make on into the future and realized that a new machine, as expensive as they are, would pay for itself over time. So, I got an Innova 21 with a 12 foot frame and it was one of the best decisions I ever made. Several reasons I went with Innova was that a dealer was 2 hours from me and the resale value of the machine is excellent. It is a wonderful machine and I really enjoy quilting on it. FM longarm quilting is not that difficult. If you choose to get one you will soon be able to quilt tops that look beautiful with just simple overall designs. Good luck with your decision making.