$200 for that lathe is a great price, and if it includes any tooling, it's likely to be a steal.
Taking into mind your previous request along these lines....
The first thing that you're going to want is a suitable chuck for the headstock. There are lots of choices out there, but regardless of the brand you're going to want a 4-jaw scroll chuck (one that closes all 4 jaws at the same time). I have a Oneway chuck, and I think this is a a great entry chuck for a anyone with a midi/mini size lathe. Be sure to get the right thread insert - 1"x8tpi:
http://www.oneway.ca/chucks/oneway.htm
If you get a chuck body/jaw package, it will probably come with #2 jaws. These are good jaws for holding blocks for most woodturning, and CAN be used to hold briar blocks (I did so for a couple years) but what you really want are the tower jaws, since they give you much more depth of hold and a firmer grip on your briar. They're far more suited to pipes of odd shapes and deep angles than the standard #2 jaws since you can grab more of the block. Be sure to get the #2 PROFILED Tower jaws:
http://www.oneway.ca/chucks/accessories/tower_jaws.htm
Another useful chuck jaw to have is the #1 Spigot jaws, for gripping rod stock, preform stems, delrin rod, etc.
http://www.oneway.ca/chucks/accessories/spigot_jaws.htm
For your tailstock, the bit on the end with the crank, you will need a MT #2 (morse taper #2) Jacobs chuck, also called a "drill chuck". Get one with 1/2" capacity, you're going to need it. Don't bother with a keyless chuck. You're going to want the extra tightening power of a keyed chuck:
http://www.woodturnerscatalog.com/store ... huck?Args=
Next, at a minimum, you're going to need some drill bits.
- 5/16" bit for the mortis (McMaster-Carr #8947A128)
- 5/32" bit for the airway (McMaster-Carr #8947A117, #8870A21, and #29515A62 for short, jobber, and long length)
- tapered 5/32" bit for the stem (McMaster-Carr #30915A76)
Another necessary drill bit is a Forstner bit for facing the shank, end of rod stock, and top of tobacco chamber if necessary. Get a qood quality one, don't skimp here. I prefer the Freud Precision sold at Lowes:
http://www.freudtools.com/p-297-precisi ... -nbsp.aspx
Now you're faced with drilling the tobacco chamber. Here you can go one of two ways: reground spade bit, or reground silver & demming bit. Both are as close as the local hardware store. The re-grinding is beyond the scope of this post, but both are stunningly easy to do. I prefer the silver & demming bit. Perhaps a post to show one of each being done is in order?
Now, to turn the shank or top of the bowl where appropriate, you're going to want a set of lathe chisels. I prefer to use:
Now, this is just what I would consider a minimum to properly setup your midi/mini lathe. Good for pipemaking, but can also be used to turn other projects on your lathe.