Mechanical compression joints in wood don't always fare well over the years. Every so often those bolts will need tightening just a bit as the wood fibers crush from the compression, but that Chinese-made lathe may not last that long.
Some shavings are going to fall between the lathe bed ways. If the lathe is sitting flat on a solid bench top, you will have a hard time getting those shaving out. You are much better served if you use a gap bench top or use about 2" of risers between the lathe and the bench top.
No one said it explicitly. but you want the lathe sitting at the front of the bench. Be careful, if you add casters, be sure that the cg of the bench is always between the caster's contact with the floor no matter which way they turn.
Lots of people like the enclosed cabinet/drawers under the lathe, but I find that they can get in the way of my knees when I am dancing with the lathe - especially when doing bowls.
For me, a better choice was to put some strong magnets in plastic bags on the grinder and to put the drawers for the chucks (NOT the sandpaper) in the grinder stand.