Thank you Jason and Nobby, the lathe is out of action, this is part of it I'm rebuilding. I have two 125 x 100 x 20mm plates to make the faces, it'll be a bit like the Sieg headstock casting with pressed in taper-roller bearings but only the ends where the bearings are. The plates will be bolted to a base plate on the lathe.
Nobby, you have described what I'm trying to achieve very well. I was a bit coy on the first plate and left about 1.5mm in from the edge as I didn't want to get too close. I keep forgetting that 1.5mm is actually a very large distance in engineering terms
I am doing something similar to CNC where they spiral the cut down about 0.2mm for each rotation, but manually in the first 15mm or so of each pass.
I will get a 2 flute slot drill to finish this job off. I am using the Warco WM-16 milling machine.
Here's the idea. The left plate is as clamped in the mill and the finished item on the right.

Thanks again,
Ed.