The key part of a lathe is the spindle which spins at a fast RPM to allow machining and inside the spindle at the front end is the collet which opens and closes and grips the work. The spindle has a whole thru it to receive either bar stock or rods. All of this is held inside a casing. The spindle,casing and the collet can be made on a lathe.
In the front of the turning spindle and collet holding the work is the tool holders and tooling which ride back and forth on a machined track. There is also a shaft that controls the two & fro of the tooling holders (In and Out) to machine the work held by the collet. All of these items can be made directly on a lathe. And the tools like a drill and a tap ( for making inside threads ) can be made on a lathe. And a handle is attached to the turret which rides on the saft and track to go back and forth to do the work. All of these can be made on a lathe.
Of course, the sheet metal and motor can't. But hey, I wasn't about to question my foreman!
I'm a little rusty but I think I got the essentials. But if I'm wrong I know the Freeper technical police will set me straight.
Well, all the round parts, sure. Those are what I’d call “lathe parts”. But what about the ways? And I’m not talking about the base casting but about the machining of the ways into the base casting. It seems to me you can make round stuff on a mill a lot easier than you can make long straight stuff like the finish cuts on the ways, on a lathe.