The old saying goes that any mill or lathe is better than none, and skill and patience can make up for a lot of deficiencies. The 3-in-1 machines are compromise machines compared to a Tormach, just as the Tormach is a compromise compared to a Haas, and a Haas is compared to a Mori Seiki.
Personally, unless space was a severe issue, I would much rather have dedicated machines, even much smaller ones. I love my 1100 but if I was starting over the 440 would be really tempting, and you could get that and a Grizzly manual lathe or similar and be very nicely set up. I suspect the easily-usable work envelope on that 3-in-1 is a lot smaller than the specs compared to the Tormachs. Personally, I find I use a mill ten times as much as I use a lathe (or more), and so I'm mostly content with the manual lathe. That said, I've also "turned" parts on my 1100 by milling them, and if you don't need roundness better than +/- .001", it's a very practical way to make relatively short parts, and even complicated ones like this:
Attachment 311952
Regarding the need to tear down setups, working in the shop may beat scrubbing the bathroom, but as time has gone by one thing I've continued to invest in is more and more quick-change fixtures, tooling, etc. I take enjoyment from getting things finished, and the more time I have to spend adjusting, aligning, and fidgeting to make a part, the more annoyed I get.
As for Charter Oak and Novakon, the reason I chose Tormach was the support and high level of long-term vendor viability. Tormach feels to me like the most thoroughly thought-out of these machines, has the most units shipped (I'm guessing), and has been around for over a decade. This isn't to denigrate any of the other vendors, who offer what look like some good specs (in some places superior) and seem to have a fair number of satisfied customers. I just feel more comfortable with Tormach's size which is neither too big nor too small.