My .02 for what it's worth. Go see your buddy in BV, take some beers and do what you have to to let him use his equipment for a couple hours. Have him show you some basics and then make some lawn art out of his scrap bin parts. Actually weld something before spending money on these tools. You may find you don't want to do this after doing it, then the outlay of cash for the tools would be kinda pointless. Make sense?
If you have fun making lawn art (my term for parts that become scrap) then proceed accordingly. Don't try to make a bumper the first time out, just weld scrap pieces together using various joint techniques. Lap, Butt, Inside corner, Outside corner, tube notches oh and in various positions, flat, vertical up/down and if you're really feely froggy - overhead.
As for a welder to purchase, I too am a Miller kinda guy. But I do this for a living and need dependable equipment that can run all day/night long without a hickup. The Hobarts are decent machines and for their intended use (home or part time) they are decent. As troy points out shop around you can get a really good deal if you mail order, be forewarned you usually won't get squat for service after the sale...
Any machine in the 170-180 amp range will do anything you can ask of it, unfortunately this means a 220v machine. We have a Miller 135 (110v) at the shop but it's strictly used for sheetmetal work and for portability to events and wheeling trips. It is a good little machine but you really need to know what you are doing to weld anything over 1/8". We also have 2 bigger Millers - a 210 and a 251. Plus a Hobart Brothers Beta Mig 200 (before Miller bought Hobart out, much better machine than the current Hobarts) and a Miller Syncrowave TIG.
I've never seen a clothes dryer that isn't 220v. When I started putzing around with this fab stuff as a kid My dad had an extension cord that we would plug his old buzz box (stick welder) into. Only time it got us in trouble is when ma wanted to use the dryer. haha I still have and use that extension cord! Make sure it's heavy enough (guage of wire). Mine is 20' of 2-3 (2 guage - 3 wire)