Ding ding ding: the Winner!@Swamppump
That, my friend, is a milling slide for a 7x lathe, or, should I say, one of the multiple designs of milling slide for a 7x lathe.
It is not shop made either, it is a commercially available item.
To use it, you remove the compound on the lathe and mount it in its place.
Honestly though, as far as it's intended purpose, do remember we're talking very light milling. You won't be hogging out tons of steel with honking great depths of cut.