You can bore a bearing hole and face the countersink in a single set-up. You can also backface the inner surface.
Using some jiggery-pokery with the feed rates, you can also bore a hole with a taper. You set the feed rate per revolution on the head, and with the feed rate adjusted on the mill table, you can create a repeatable taper. Boring groves for circlips, retaining rings, and O-rings is also made pretty easy.
As you may be aware, you can drill a hole, and have it come out neither at an exact size, or at an exact location. Boring gets you both! Especially important for gear meshing, where too close or too far apart leads to early failure.
If you look through the manuals for these heads, you soon see a LOT of varied operations that can be done.
EG:
https://www.alliedmachine.com/Suppo...anuals/102166_ba_UPA_4_4S5_5_5S6_6_6S7_GB.pdf
and