I picked up a lathe last week. I've been wanting one for ages and was fortunate enough to acquire one through a friend.
It's an "Advance" brand, built in Australia around 1960. I haven't played with it much yet but I certainly am looking forward to doing so. A friend is making me a cover for the motor, guard for the gears and a tray to catch swarf (chips).
I'm planning on making a coolant reservoir and pump assembly (thingy) a little later.
A full write up of this brand of lathe can be found here.