Just finished construction of a small lathe router. It accomodates a workpiece up to 9 inches long and 7 inches in diameter.
The rotary axis is a used Taig lathe (no lathe motor). The lathe spindle is driven by a belt connected to a stepper motor working into a 50:1 reducer.
A Picture is here:
http://www.flickr.com/photos/11132086@N02/2111286068/
Several other pictures are there and can be accessed by clicking on the photostream.