I also have one of these with the original 3 phase motor and pulleys. I use it for a repeat job cutting some delrin and the rpm has been fine for that job. Every time I use it I am tickled with how nice and how well built it is. I have made some semi permanent clamping fixtures to go on mine, but I know a lot of people use them as Richard said to cut small wood parts. I think a person that did alot of segmented glue ups like turning work would want one.
As for the original use, they do have a weird blade mount with a 3 hole pattern in them to mount with and also another 3 holes in the body of the blade for cutters to protrude from for trimming lead. To use the trimming cutters you have to raise the blade so the arbor is higher than the table, but they are made to do that. They also came with a grinding stone on the outside end of the blade arbor. The rolling box in the base was to catch the lead. That's why it has wheels and a longer handle, if you let it get too full you weren't picking it up.
