I'm also a fan of welders for pulling outer bearing races. I like to stick a washer in there and weld that to the race. Minimizes chances of welding race to neck and provides something to hit with a hammer and drift.
Cheap welders work in a pinch but they don't work that well. While they might work for pulling bearing races or slapping together home-made tools, you'll probably find them inadequate if you want to do any sort of finer work. Also, while stick welders tend to be cheaper, they are a bit of a 3 pound hammer compared to their counterparts and are best suited to heavy work.
I was fortunate to happen upon a brand new Lincoln 140amp MIG welder New-In-Box for $300. Unlike a Harbor Freight mig welder, the wire isn't always "hot." It has more voltage controls, better wire speed management, and a good company behind it if things go wrong.
It's supposed to be connected to a 20Amp 120Volt outlet, but it won't draw that kind of power unless you're running it at maximum capacity.Best advice I can give you is to buy a name brand welder, even if second hand, rather than get a cheap one. Mine is one of the best tool investments I've made.
P.S. Monte, I have a fire extinguisher
