to what AP said. It is like the second op lathe equivalent for the milling machine family. They have their uses, but kinda limited and thus not very common in this day and age. IF you can get it cheap, like <$100 I'd totally buy it. I'd like one for a specific cutting operation I do, but haven't seen one cheap enough to justify. YMMY though. 
I love the hog wire guard.![]()

Actually I'd be interested in what that large blue pulley/fly wheel goes to. Possibly a power hack saw or the like?![]()



Commonly called a "hand miller". It's a hand fed horizontal milling machine for production work.
Probably made by Nichols if I had to wager a guess.