Need to be careful this Cruiser-Hoosa-Bruiser (again Scottish accent required) thread doesn't turn into lathe lovers anonymous thread!
I used to know quite a lot of info about the Drummond and M-type Myfords, but that was a while back as I think I bought the above lathe aged 19! I sold it perhaps 15 years ago? That's why the shots are so low-res as they were taken with a digital compact camera...
Both lathes will share similar features as I'm sure they were essentially build around the same base. I never modified the lathe in anyway from buying it. I think I paid £350 from a guy who restored motorbikes, but he needed a bigger lathe. Turned out his son race XC MTB's like me so ended up chatting for ages!
4-way toolpost is handy, but less rigid than original single mount toolpost and most people seem to use multi toolpost these days for instant swapping of tools. Once you use one, you never go back. The lathe I can't get to/use has one! compound slide says what it does and could be adjusted to whatever angle you wanted.
My old lathe, does have spindle lock, reverse tumbler gear and back gear set-up so could do thread-cutting, but again elements of the lathe were quite worn and getting a good result was tricky. You could also fit a crank handle and turn by hand as the speeds never really went as low as you'd like so use to do some hand cranked thread cutting which took some considerable time.
Biggest issue with these little lathes is lack of rigidity and illuminating chatter just when you don't want it. Patience is key with these!
You should be able to get spares pretty easy. Things should be interchangeable with early Myfords and there must be a fair few forums out there... you just need to prepare yourself for another level of geekness!