To emphasize Martin's posting above, the one American posting was by a fellow on modelenginemaker.com, "Crueby" from Rochester NY who built a 1:16th scale Shay on his Sherline equipment, and took photos of the process.
Sure, things were tight at times (machine wise) but he did not need an 11×25 lathe and 10 ton milling machine to produce works of art.
I got his picture of his Lombard Log Hauler into the club chat section of ME a year or so ago; maybe you'll remember it.
Anyway, if anyone wants to see what Sherline equipment can be made to do, look at the above web site and look for the builds by "crueby". It certainly opened my eyes.