Lots of great ideas, as ever – Thank you.
The Cowells CW is a bit of hybrid between a watchmakers' and a regular lathe. The headstock and tailstock are both set up for use with 8mm watchmakers' collets and both have a drawbar. Unlike a watchmaker's lathe however there is a big gap in the lathe bed to accommodate larger chucks and bigger diameter work. These chucks screw onto an adapter which in turn is fitted to the headstock with three bolts, meaning that a centre cannot be fitted at the same time.
As Michael says, I am hoping to user a graver for the work when turning between centres so the gap should not be an issue so long as I can position the handrest securely over the gap. Holding some bar in a chuck and turning it to a point is a good idea. It will need to be trued up again each time it is used I guess, but this should not be too onerous. I will need to acquire or make a suitable lathe dog however.
A watchmaker would probably use one of these, but they are not cheap:

Edited By Nigel Watts on 28/05/2019 12:57:47