For "cutting" you are talking about a torch, works great to cut but a lot of skill needed for welding and it is very limited in thickness of metal you can weld. A MIG is what you want for welding. So, you are talking about getting a torch AND a MIG. But to tell you the truth, I hardly ever use a torch anymore. It can be very handy, but most all things can be using other tools.
What exactly do you plan on cutting?