Thanks to Jim Wilkins, I have been able to identify the mysterious "key
cutter".

It is the third pic, on the site Jim pointed out.

www.lathes.co.uk/benchmaster/index.html

according to the handyman who stopped by the other day, all the bearings
seem to be very sound.

now for my original question:

is there any value in this machine?

there are two options:

one, i get to get my first machine for a soon to be budding metal shop,
as i have most of the wood tools i need.

two, i help the widow sell it.

if the value is too high, then selling is my option.

i'll be posting pics soon.

Cus