I'm sure a lot of you have seen one of these, but I'll bet there are a few who haven't. This kind of unit was used to bore mortises in timber frame construction. I get sore shoulders just thinking about using this thing!
This one looks pretty rough, but I plan to revive it by replacing all the wooden bits and giving the iron an electrolytic bath. The lead screw on the bit looks good, so I expect it will restore to like new condition.