Stitching is part of the process its not separate in any way. Hand stitching when learned and done correctly isn't tedious or hard to do imo but it sure was before i knew how. In fact it makes a guy feel good to see the personal improvement just as any of the processes are plus there are some things that the average machine cant sew. If you plan on being competitive with Walmart's products neither will help you. If you plan on being competitive with other crafters with sewing machines then you will need a lot of practice some are veeery fast and time learning the machine is part of it also! If you plan on being competitive with hand stitching you still have to say its machine sewn, that's an apples and oranges argument.
As with all tools there is cost in purchase, maintenance and time learning that needs to be included in the final cost of each product so you have to add that just as you would the extra time hand stitching.
"I'm new to the entire concept of leatherworking and am looking into buying the basic equipment I need to get started." A leather sewing machine isn't basic equipment imo and i'm sorry to say but only friends or family would buy your first few saddles, folks who go out looking to buy them want guaranteed quality from well known makers.