I've also got a swivel vise similar to what you show that's not half bad for the price, and frankly looks beefier than that one. Mine's from HF and been in use for nearly 15 years now. For a long time, it's all I had. Now I've added 2 Wiltons, a Record, and another of a decent brand with a flip-flop base that I don't recall at the moment. That's not counting the machinist vises of different sorts. It just took me 15 years to find deals I would pay for, so hand in there.
well, keep in mind, I'm no pro.... that vise was given to me cuz the lock for the rotation was stripped, I've never even bought one.. I fixed that, but than proceeded to break the jaw on one end by putting a pipe to the handle..

still kinda works flipped over for most of what I do..
but I definitely want another "multi-purpose" rotational one for the fab table.. and hardly anyone makes em and they are all about the same.. the wilton, Yost and westward are all very similar, and all made overseas..
but they ain't no big old wilton machinist, etc.. but I don't want that.. I like the rotational ones for what I do.. I vise up LOT's of tube at weird angles for carbiding, fishmouths, etc..
I certainly wouldn't mind a big old bastard witon but if I'm buying one, I want the rotational first..
I like the drawer idea. I was in Harbor Freight the other day and saw they had a 5" multi-purpose vise for $70 that looked pretty stout.
Suggestion on the table before you get to welding. It looks like your table top will be a minimum of 28" high. You might want to make it so it can go lower in case you ever work on a tall object. Lowering the table would be much easier and safer than climbing up and down a step ladder if you have to weld the top of something while it was clamped to the table and couldn't be moved.
I say this because my workbench in the wood shop is 30" high. I've had problems on a few instances where I couldn't climb up a ladder w/ a nail gun and hold something in place at the same time. I've learned to keep a folding table in the shop w/ telescoping legs that can go from 20" to 36" and I'll use that on the lower setting to assemble taller projects.
i'll peak at the vise..

might be a good cheap temp alternative..
and the height is fixed now.. low of 29ish, high of 43, 44.. ain't changing that after all that work..
I'm not too concerned about it, I don't fab "tall" thing's really... not like I'm welding big fuel tanks all day or something.. at that point I put it on the floor or some 6 x 6's or 5 gal buckets...
as I mentioned I want that low seat comfortable height, but I may also want like 40, 41 for standing with my bad back or a bar stool..
if I wanted to go shorter, both 1/2's of the legs would need to be equally shorter, cutting WAY down on my max heights..
change in plans.... not only is it getting that lower expanded steel basket, but I'm doing a flat expanded shelf down about 10" or so from the upper frame.. should have just enough expanded...
did some eyeballing and it looks like plenty of room to add it.. maybe i'll use that for templates and template material, or flat stock, etc, cuz it'll be a bit shallower...