Only you know what you want to do on a lathe. The Delta 46-460 is what is known as a midi(read small) lathe. Comparing it to a full size lathe is like comparing apples and oranges. For small turnings like pens, tops, small bowls, etc it will be ok. If I was going to go that way though, I think I would look at the Jet midi.

If you plan to do larger turnings, the weight is not sufficient. You will have to bolt the lathe down to something very solid and heavy! Even then the bearings and such probably are not up to the task!

If your goal is to do larger bowls primarily, the size and weight of the Grizzly will be to your advantage. My thinking is if you want to turn anything too large for the Grizzly, you definitely will not want to do it on the Delta, either. You will want something much more expensive and substantial. Th spec I saw rate the motor on the Delta at 1 HP Max.. that tells me it is most likely a true 1/2HP motor.

I think you would be happy with either as long as you use them within their limitations.

Here is a rather extreme lathe made specifically for large bowl turning just to put things in perspective. It is $8000.00 by the way!

I know Bernie W recommend the big Jet lathe, But I would not put 2000-2500 dollars in a lathe not knowing if I even like turning. The Grizzly or even the Delta should be a nice learning tool. If(and when) you outgrow it, you will know much more about what you need and want at that point. Turning 20" bowls is not the best starting point to learn lathe techniques.

 

I have the Delta lathe. It was initially recommend to me, I did a lot of research on it and the Jet. The Delta, in my opinion edged out the Jet with easier belt changes, a wider belt, and the ability to run in reverse made it the better of the two choices. With the extra bed extension you can do longer turnings, such as table legs. For someone starting out, it is a lathe that will grow as your skill will grow.

The reality of turning is that over time, the cost isn't the lathe itself. It is all the accessories, tools, and other equipment that goes along with it. That said, unless you buy a large 24" lathe today, the one you buy now is very likely not going to be your last lathe you own.

A note for the speed, just because you have it well cut out the bandsaw, you still want to start a bowl blank at the lowest speed possible, slowly rev the speed up till the lathe starts to vibrate, the back it down a bit. While you can get pretty close on the bandsaw, the work piece will still be out of balance, and you may find 600 RPMs, even on the heavier machine, is too much.

 

I have the Delta 46-460 too and really liken it however if you need parts it may take a while to get them. They have a very good resale value so when you decide to upgrade (which you will) you won't have lost a lot of money. I'm not sure if Grizzly has improved there products but here is a review on the G0462
Review: Grizzly G0462 Wood Lathe with digital readout - by trifern @ LumberJocks.com ~ woodworking community