My space is limited, so im looking into picking up a shopsmith. I did a search and pulled up very little. Anybody still using one, and how does the bandsaw perform?

I have one but its not the ultimate tool for small space you still have to store all the attachments somewhere.I would look at bench top bandsaw for saving space.

I had one with the bandsaw, joiner, sander, tablesaw, and I don't know what else.  It was a pain changing it around.  All the pieces worked fine just not very versitile.  I sold it to make space for a dedicated joiner and sander pieces. dino

You will want a bandsaw and bench sander probably more than any other tools. If you do glass bows, a spindle sander would be handy. I like dedicated tools myself.

I would only resort to the tool as a last resort.Although there is a few features on the machine I like, mainly the speed control. it just doesn't cut it for me.

Dedicated tools all the way. I own a shopsmith and as Matt said the speed control is great. I use it for horizontal drilling, lathe work, disc sanding, grinding, polishing and such, but the jointer, and Band saw attachments are too small in my book for any productive woodworking.

Dano,I have used the Shopsmith's lathe. It works but my Delta/Rockwell lathe puts it to shame.I had a problem with the Shopsmith staying secure and some chatter if I didn't pay close attention. This was distracting. I don't have any problem with my D.R. machine.As a hobby machine the Shopsmith serves a purpose but my company put my machines heavy use.
Although I no longer serve the public, I still keep and use my shop for friends and a few customers that need specialty pieces made. One thing that the Shopsmith is good for is you can take it to the job site.

Hummm, now I need a lathe!!  

I went to the single machine set ups.Bandsaw and spindel sander,belt sanders (4 different sizes)and a drill press.Never figured out what I needed a lathe for in bow work.But I sure would like to have one to play with.They are great for cutting wooden plugs to fill holes in old bows.I picked most tools at Harbor Fright,Home Depot,Lowe Boy's Hardware for under 99.00.Harbor fright just had a 48" belt sander for 99 bucks no dust collecter,but what the heck price was right.I can sand the edges of a full length limb for tillering on the 48" belt sander works great for 99 bucks.bd

I've owned the full shopsmith set up for a long time. I did use the band saw and belt sander when making bowsbut I have the mounting stand for the belt sander and the band saw.

Like stated above you still have to store all the parts and each accessory might be somewhat cheaper than a stand alone but over all I'd suggest buying stand alone units.

Also I have a cheap (sears) spindle sander and it is a big help in riser work.
Ron