I believe so. It's no different than a drill press, a lathe, or a milling machine (which is the closest sibling of 3D printers, by the way), it's just using different "blanks". The prep/survival value of the later tools is obvious. The learning curve for all of them is quite comparable. My tabletop 3D printer is of a rather inexpensive class ($500 kick-started) but it's not far from your goal (load it in the evening, - pick-up the fresh new item in the morning). See my thread here:
http://forums.equipped.org/ubbthreads.php?ubb=showflat&Main=19447&Number=279494 The only "unpleasant" issue to me is that when I change the plastic type, I have to go through its initial testing, trial and error phases again, so precise documenting of your 3D printing efforts is essential for repeatability of the result. Also I'm aware that if I switch to another printer model, I will have to rerun all my plastics again - that's usually not the case with a lathe or drill press, but I consider it just a minor inconvenience, actually.
If I could pay 3-4 times more I could opt for a more expensive, brand model of the printer, which provides the special plastic filament as well (also more expensive), so you need just dial in its vendor code and have the printer process optimized automatically to use it flawlessly.
For serious lathe or even drill press projects it's still good to have some practical CAD knowledge (actually, even more so than for 3D printing, as you cannot just download a model for lathe and have it turned in metal to you specs, though millions of parameterisable models
already available for 3D printers), unless you plan to produce just cylinders with the hole in the middle