It works fine to turn on a mill within the machine's capability.
Have to laugh everytime this subject comes up. As as apprentice 50 years ago I had a quick small lathe job to do to get a single small brass gear project along to the next operation (NASA R&D shop, jewelers lathes to 40 ft planer, every open machine was clean and available). It was 5C collet size and all the Monarch 10EE lathes were busy with work. The next size lathe available was a big hulking L&S, no thanks. Rats!
The little Hardinge horizonal mills that no one ever seemed to use were all empty so I drilled, reamed and turned the gear blank using the Hardinge mill with a 5C collet, then finished the gear in the same mill in the conventional manner. The gear was fine and done quickly. I'm happy and thinking I did well.
The reaming that followed still befuddles me a half century later, one guy took exception to what I'd done with a mill and made a big stink. It's true, some old farts aren't much more than that. He did contribute to my career however.
For the following 50 years it's been a personal policy to encourage as well as nuture innovation and creativity from everyone. That fellow's "lesson" backfired big time.
One look at present day CNC machines that turn, mill, drill, bore, index and jump through hoops all in the same enclosure should be inspiration enough to do more.