Out shopping yesterday I spotted a small lathe-like tool in a shop's window display. (Not for sale.) Although several bits were missing, a maker's nameplate was visible 'Jankey'.
Trying to find out more I came across this much more complete example on ebay. It's a key grinder. Judging by the control box this one is a later model and the maker's name has changed slightly.

I never cut keys, but would a tool like this be of any use in a hobby workshop?
Please don't say yes too enthusiastically: I'm short of space already!
Dave