Take a look at the Rebel line from Esab. I recently bought the 205 and am pleased with it so far. It does Mig, Tig & Stick, come with a foot pedal and can also do AC tig if you want to weld aluminum. This one isn't big enough for 1/2" but I'm sure as you progress up the line you'll find one...

I don't have any experience with the Lotus but have used the Cutmaster 51 and it's a good machine that will cut clean up to 1/2" and sever up to 1" I ended up buying Hypertherm's 45XP because it was mad in the USA and employee owned. After I bought it I learned about their hi access attach...