I have a Lincoln Handy Mig.

http://www.lincolnelectric.com/en-ca/equipment/Pages/product.aspx?product=K2185-1(LincolnElectric)

I bought it years ago for $250 off ebay (new in box). I bought it because at the time I only had access to 110v. It does MIG and flux core wire. Comes with a basic regulator for the argon/co2 gas and welds up to 1/8" steel. Wire feed speed is an infinitely adjustable dial, heat is a 4 position switch. I have found it capable to do all repairs on these old cars. It's more than enough to do sheet metal repairs, floor pans, frame connectors and frame patching. Not much on these old cars is even 1/8" thick unless you're talking about welding diff parts or motor mounts. I've put a decent amount of use on it and it's done me well. I would like to upgrade to a bigger machine so I could weld heavier steel, but the reality is that it's very rare I have a need for that. I would definitely buy this machine again. FWIW I did use my buddy's fancy Miller at his body shop a bit to do some panel patching, and for that kind of work, I didn't really find his did any better of a job than mine.