Pictured in the forground is my Shopsmith 10ER, manufactured in 1953. As you can see, I use it on occasion as a lathe.
It also makes a fantastic horizontal bore, and drill press. When I got it, I thought the idea of a horizontal bore was strange... why drill horizontally when everything I imagined would need drilling could be done vertically?
Woodworking carries continual opportunity for learning. Drilling pin holes for table leaves, for instance, requires all the holes to be registered from a flat surface... and there could not be a more appropriate machine for the task than a horizontal bore. I simply set the shopsmith's table height to reference the center of the bit from the workpiece table top (show side down) and set up the fence on the shopsmith table's right side... once they were secure, the boring went by in a breeze!!