What Is This Thing And What Am I Missing?

One thing you can do if you want is to use an angle plate to mount the Spin Indexer vertically. I had to cut off some of the excess central shaft on mine to do it, as I have a mini mill, (didn't need it to be that long anyway) and used it this way as a sort of rotary table for rod stock, when I needed to machine a shaft which had some asymetrical features on its circumference.

Another good use for the Spin Indexer is if you ever need to custom make a hex head bolt or nut. One of the first things I did on mine. I also have made custom long extension 10mm Hex Keys, usable on a ratchet wrench, for my son who works in industrial power. The Spin Indexer is a handy tool! :)
 
George Wilson is exactly right, it is for machining an octagonal barrel on your handy horizontal mill. Then you will end up with a nice radius finish just ahead of the chamber. Of course you can also use a vertical mill but the finish work will take longer. Michael
 
Thanks guys - I put it to use today, drilling and tapping threads at 180, 60, and 300 degrees on the tube shown above. I then locked the tube between the spin indexer and the collet holder (shimmed it up to match) and milled a 0.750" wide slot longitudinally down the tube. The spin indexer made it easy!
 
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