I have two enlargers. My DeVere is setup soley for 4x5, and my Omega with colour head I use for 120 and 35mm. The later enlarger does not handle 4x5. I do have an older omega D enlarger with lens boards, cones, carriers, etc, for all formats, but I found it was a PITA to keep changing the positioning of the condensor lenses, lens cones and/or boards, etc, when flipping between formats.
As stated above, decent enlarger in the 35 and 120 format sizes are becoming very inexpensive, so picking up a good used one if you have the room is likely the best way to go. It only seems good used 4x5 (or larger) enlargers, as a general rule, are becomming harder to find and more expensive.
joe
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