So due to postage problems it only just reached me. Must confess my doubts on a watchmakers pedigree.
Tailstock is sloppy and rotates heavily while unscrewed so to assume it is straight at any point is optimistic.
Headstock has no bearings and also no split to allow wear compensation.
Bed has ( mostly had now) paint on it so I imagine it doesn't compare to the hand scraped beds I've heard of for accuracy.
I'm guessing it must be a (incredibly old) wood model makers lathe of sorts.
Still not bad for a fiver tho