I tend to agree with Charlie. I also had a Delta lathe with a headstock that could slide as well as rotate. My opinion is that a rotating headstock on a lathe of that size is mostly a gimmick regardless of whether the headstock slides or is fixed in one location. I suppose that, on paper, it sounds like a good way to enable one to turn larger diameter pieces or eliminates the need to lean over the bed -- I think that a rotating headstock will be disappointing on both counts.
A larger diameter piece generally means more out-of-balance and more shaking on a lightweight lathe. The banjo on lathes of that size aren't the most heavy duty and you couple that with a lightweight bed and dogleg extension for the toolrest and then there is the potential for vibration at the cutting edge. Besides, I like to start large pieces between centers whether balanced or not.
Any advantage in the ergonomics of turning off the side of the bed compared to the alleged need to reach across the bed is also highly overrated from my experience. The need to reach across the bed is mostly when hollowing and I stand at the end of the lathe when hollowing. The other time is when making the initial entry cut on a bowl rim and the amount of "reaching across" is hardly worth mentioning.
The new Vicmarc lathe with a rotating headstock is in a different league because of its heavy duty solid construction, precision indexing of the headstock rotation, and power. However, if I had one, I probably wouldn't use the feature much.