At the risk of causing offence, let us take a long cold and objective look at Nicolas's purchase. There is nothing wrong with it but it is frankly and obsolete piece of kit dating back to World War 2 and perhaps earlier!
It was in Brit money a £25 effort- no more. I couldn't afford one but no matter.
His mill bit is one that was the successor to the vertical slide- and Rodney went out of business for reasons that we can guess. It was joined by Myford. End of story- like it or not and that is what he has got.
Fine, I have the slightly upmarket version in a Super 7 B- that has a box tied to it. Bluntly, it is now in its second lease of life because I hauled it out of near scrap -and reconditioned it. Nicholas is sitting with a ML7. Different ball park entirely. If he knackers the bearings on the spindle, he will be faced with the non availability of suitable Glacier bearings. Replacement will cost- if it can be done- an arm and a leg.
If he knackers the saddle casting or the boring table it will end up as a constructive total loss.
It is a machine to be cared for and not roughly handled by trying to make it into a born again CNC machine.
Years and years ago, these lathes were used, evaluated, modified and conclusions written down in tablets of stone. Many of these words were written by people for whom you are actually accepting because they could make engines which you are now trying to copy and saying- 'aren't they bloody marvellous' You, the experts of today, are unwilling to accept that the same men hadn't a clue about carbide and tool posts and whatever. They made the engines using tooling which I fondly am suggesting today.
Am I wrong? Oddly there was and is one guy who wrote much of it down.
He wasn't an engineer per se, he was a lot better off and well able to pick and choose. Bluntly, he chose a Myford 254. which is in a different league to either the ML7 or my Super 7.
Summarising it all, if you want a production lathe buy one, if you want a nice lathe and accept its certain faults and sometimes limited capabilities, buy a little Myford.
Now if somebody wants to criticise or ban or whatever an old man who still knows how to use a lathe- that is their prerogative. So what?