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Factory-reconditioned welders?

I'm thinking about getting a welder, but I need to do it on a tight college-student budget. Most of you know more about welding than I do; what's everyone's opinions on factory-reconditioned welders? It seems like a good way for me to get a 220v welder for the price of a 110v unit.

Specifically, I'm looking at the Hobart Handler 500501 180 MIG welder. Factory-reconditioned, I can get it for $527.98 to my door, and it has a full manufacturer's warranty. Is there any reason to avoid reconditioned models?
 
I have a factory reconditioned Handler 135. I have no complaints about it. Saved a bunch, was $379 shipped if I remember correctly. Carries the same warranty. 1/3/5 year. The gun is 1 year, everything else is either 3 or 5, can't remember what falls in each category.
 
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