As always its a matter of striking a good balance between cost and capability given the needs of the intended purchaser, the depth of his pocket and the equipment in the factory.
In this case simple to make to good basic accuracy, versatile if the saddle and tailstock are made to rotate around the round bed. Major disadvantage of the system is that its intrinsically a right pain in the butt to get properly re-aligned after rotating things. Another, less than obvious issue, is that there are no reference surfaces. Everything is set relative to the (imaginary) axis of spindle rotation. Theoretically the sides of the slot under the bed ought to be reference but such are not accessible in normal use and, if the examples I have seen are anything to go by, are not defined in rotation relative to the spindle axis. Just longitudinally.
Of course in that day and age a conventional machine would have been unaffordable for the vast majority of potential customers. So the inherently fiddly nature and impossibility of truly accurate replication of set-ups had to be accepted. Modern multifunction machines aren't, in practice, that much better.
Two important things about then and there are often forgotten these days. First is the much greater relative expense of machinery in those days purely due to considerably less capable factory equipment requiring rather more direct, handwork, man hours at local pay rates. No cheap offshore or "China Inc". Secondly essentially no used machines around suitable for amateur use. So folk had to start off with a new machine. No working your way up market from something at saved paper round or first couple of weeks wages money dug out of your mates or Dads mates shed. (From Portass S with broken headstock bearing to Smart & brown 1024 over 35 or so years in my case.) Hence affordable new machinery was needed so significant disadvantages relative to "proper" designs were acceptable. Think below bottom end import mini-lathe today.
Things have changed. Here and now its a curio and, as a lathe basically total piece of crap. When I first got the bug back in 1970 a round bed was still marginally viable. But the world has moved on. A thing of its time and its time has passed.
Clive
Edited By Clive Foster on 02/06/2019 15:36:18