A friend of mine has a 130 Amp stick welder which is only good for up to 4mm (1/8" = 3.2mm) so I'm guessing this would be even less. It would be ok for light fab but you'd have to call in reinforcements for the heavy stuff.
On the other hand, I have a 130amp gas/gasless MIG That's good up to 1/4" (6.5mm). Yes, I favour MIG over arc, IMO MIG is easier to use & you get a better result but it's your choice &, yes, MIG are more expensive.
See if you can find friends etc who have welders (MIG & arc) & see what you're more comfortable with