I bought both a lathe and a mill and I am teaching myself to use them. I make a lot of mistakes but I am having a lot of fun learning.
The mill for $700 will be to small to do a full size 1919 in one set up/clamping. If you want to cut a RSP from new stock (0% not a 80% plate) then while possible, it is a lot harder to do but not impossible. A mill is not needed to do a side plate from a 80%. I went up a size with my mill but the price was a lot more.