Love my South Bend. It was in dissrepair when buying it at auction but it had a ton of tooling. Completely dismantled it and put it back with new paint, etc.Find an old south bend lathe and restore it. I just saw one of marketplace a few weeks back restored for $1000. What a steal!
Convert them to quick change tools posts with carbide tooling. Get an adjustable chuck from Shars tools and a 1-1/2 x 8 TPI threaded back plate to adapt the chuck to the lathe. Have Power Equipment and Engineering in OKC make a modern material belt to replace the leather belt. Replace the motor if needed. Now you can do anything.
The old belt drive uses a belt from South Bend that was way over $100. They knew it's an essential part of making them run so the pricing was set accordingly.
I've noted the Power Equipment and Engineering in my saved links if I ever need another belt. The glue and cleaner was almost $50 when I got my last from South Bend.
It's set up as a milling machine using an Atlas lathe for metal turning.