So back to the metalworking shop here is a plan for a nice clamp-on model maker's vise, a cleaned up and clearer scan of a test indicator for the lathe and around the shop. There is another method for cutting keyways in the lathe and a quick little jig for drilling round work.
Keyways are a characteristic common to most shaft, motor, and pulley assemblies in shop built machines of wood or metal construction. Just set screws can come loose and score shafts, keyways and set screws are a better way to go. Above is another idea for cutting keyways in the lathe. If you have a compound slide or have built one from the couple of plans I have posted, you can cut keyways using the above idea in the wood lathe as well. Don't try to hog it off in one pass, feed slowly taking a number of passes to reach the depth required.
If you use this method use a high power low speed drill, like the one below. I purchased this one shortly after "Mastercraft" came out with it. I liked it so much I bought a second one. Lots of power, it draws 7 amps, and the reversible variable speed runs 0-650 rpm. I work them as hard as my Makitas and so far they are holding up well.