Was just given a Shopsmith Mark V starting year serial number 1954

Congratulations!
My new-to-me second one is my dado machine, drill press, belt sander, disk sander and band saw power.
the original one has a Jointech router table built on it and is a real PITA to change over. So, it’s pretty much just a ripper and cutoff saw.
The great thing about the Shopsmith is the availability of parts for all of their machines.
The shopsmith owners site has some excellent lathe accesories, too.
And, checkout the Shopsmith Forum. Great resource.

-- Gene 'The true soldier fights not because he hates what is in front of him, but because he loves what is behind him.' G. K. Chesterton

Great score. I use one of the 4 in my shop as a dedicated dado saw. It’s an even older model 10er & I added an extra table assembly to the left of the headstock & mounted a router under it. (I am a certified SS nut, after all)

-- Accuracy is not in your power tool, it's in you

If you really want nostalgia, you gotta go for the heavy cast iron 10E or 10ER. I have one in my fully equipped shop and it makes me smile every time I choose it over one of my newer, more expensive tools. :-)

-- Paul M ..............the early bird may get the worm but it’s the second mouse that gets the cheese! http://thecanadianschooloffrenchmarquetry.com/

One more thing…be sure to do a full lube service before using it. Check the manual or look to the web, probably youtube, for help.

-- Accuracy is not in your power tool, it's in you

I recently picked up a refurb 510 that I’ve outfitted to be my all in one sanding station. Here’s a pick. L to R, 2” drum, 6” belt, 12” flat and 12” conical disk and then OSS. As soon as I can find the right deal I’ll swap out the OSS for a 1” strip sander.

My shopsmith is a 55 and it works great as a lathe.

-- - Terry