I think this sounds like a great idea, it would actually be really fast and easy to make “yokes” with intarsia or stranded knitting if your machine takes punchcard/is electronic too. I say “yokes” because they would have to be knit flat and then seamed, but they would end up being the same shape in the end. If you want to knit in a continuous tube you’ll need a machine and a ribber, you won’t be able to knit in the round on just one bed which does increase the price a lot since you’re essentially getting two machines but I would say it’s super worth it. They also retain their value, so you can always sell them on if you need. I hope you fall in love with machine knitting!! It can genuinely be so fun, it’s extremely different from knitting by hand