Here is the recent thread about doing so...
using-a-metalworking-chuck-on-a-wood-lathe-t117966.html
I went with my lathe, having never really used a wood lathe before, nor being learned on the subject, because of a few things...
It is a frequently seen machine that could be got for a bargain.
I liked the flat bed on the thing, as it looked stouter than the alternatives at my very low budget price range.
I also like the flat bed as I may plan on trying to turn some metal on it someday, it should be easy to make up a hefty jig to sit on the bed.
Downsides
The motor is underpowered, but I can deal with that, as I only turn wee handles and the likes.
The reeves drive (clutch) can play up a bit, I believe Chas (CHJ) dwells at the turning section, and has done some posting regarding this on his Axminster coloured one.
I temporarily took off the tailstock the other day, for space reasons.
It looks simple enough for a home metal bodger to make it lock squarely to the bed.
I was under the impression prior, that if you had a chuck in the tailstock it would drill parallel with the bed.
Not without some work.
The headstock can move about aswell, and I don't know if there would be a good fix for that, haven't looked at it properly yet.nothings impossible though.
I will leave tinkering about with the lathe for some winter project, as I don't have chucks for either end yet.
Chucks are expensive kit.
Hope that helps some
Tom