Tom, in this arrangement, the work, perhaps a table leg, is held between the green headstock on the right and the tail stock on the left. The headstock can be rotated with the crank on the right and it has indexing stops, which if used, allow for doing things like cutting facets or flutes.
The "lathe" attachment is mounted on a sliding bar that can be moved left and right with the crank on the left. The attachment can also be mounted so one end is higher than the other to allow for cutting tapers.
There are other work holding options as well and the machine can be set up to cut dovetails, box joints, mortises and tenons and any number of other sorts of things. I also make dowels on mine.
https://farm5.staticflickr.com/4067/4550668377_a422a19ab8_n.jpg
And cut tapered sliding dovetails as on the leg for an office chair.
https://farm5.staticflickr.com/4039/4430908260_b671d48b42_n.jpg
@Hornoxx, no, it's not a machine I'm looking to buy. I have one with all the bells and whistles already. And thank you on the scales. They were actually quite easy to do.