Yes they are a compact and economical alternative to a 4-jaw [especially if home-made] … but they do have a technical advantage; in that the workpiece can be adjusted for angular alignment with the headstock spindle, rather than just parallel offset.
[rarely needed; but let's make a virtue out of a necessity]
MichaelG.
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P.S. … For pricing; scroll down to accessory set 1766-28S on this page 
Edited By Michael Gilligan on 24/04/2015 22:14:53
Edited By Michael Gilligan on 24/04/2015 22:15:45