I've used these machines and they are great even for making one of's when a three jaw chuck is mounted on it but are suited for larger runs of identical pieces. This one has a 2 speed spindle motor, instant reverse, a lever arm collet chuck and possibly preselect spindle speeds. All directions have hard stops you can set. Fun to use.
I had the larger version, a Herbert Senior Preoptive #4 with a 2 1/8 spindle bore.