In my shop, I had a Mitts & Merrill keyseater, the next to the smallest model which can cut up to a 1-1/4" keyseat 12" through the bore; not a bit like the Morrison, a single tooth cutter is pulled through a slot in the post that the work is mounted on and there is a wedge behind the cutter that both relieves the cut on the up stroke and feeds the cutter out at each subsequent cut; one cranks the feed out until a small chip is removed at each side of the cutter, then a scale is set to zero with an indicating arrow, then a hard stop is set and the ratchet pick set at whatever feed is appropriate and start and run until finished depth is reached. Nowadays, I have broaches for ordinary work and a 6" Pratt & Whitney vertical shaper (slotter) and a slotting attachment for my B&S mill AND, I can still go back to my old shop and use the Mitts & Merrill if need be.
Since the cutter rides in a slot in the post of the keyseater, there can be no deflection of the bar as with the Morrison and chatter is unknown and the part being keyseated is always centered on its bore and not by its OD.