Jeff,
You could set up a lathe probably cheaper but you will, like steve says only get symetrical profile turnings. I absolutely guarantee that you will either be asked to, or want to do more detailed turnings in the long run. So why limit yourself?
If you go back to the very beginning of the indexer section and go thru the first several pages you will see guys who have made indexer setups for their bots for between $200.00-$500.00 and higher so my advice is go for a full indexer setup regardless of whether its a cobbled together system or one from shopbot.
In the long run you will thank me......
Words of Wisdom:
“Words that sink into your ears are whispered…… not yelled”
“The biggest trouble maker you’ll probably ever have to deal with, watches you from the mirror every morn’n”
“The only difference between a rut and a grave is the depth”
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Just remember...when it's time for the hearse to pull up..there's no luggage rack on top!
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The beauty of the Second Amendment is that it will not be needed until they try to take it...Thomas Jefferson