Yeah, if you're half serious about this, it seems likely that you'd want it around for other things.
The other thing is that having your own welder means you can practice welding basically when ever you want and on things less complex than the structure of a car.
Good man! Buy a real welder and get good at it first. I'm selfishly talking you out of it because I like your car too much for you to ruin it, even if you won't put in an LS1! 
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