Can any one guess what he is making?

No. The diameter of the pin you are looking at is 1 3/4" The reason I know that is I just got two 1 3/4 Fenner locks in the mail.

That pin that is through at an angle is just a test to see the angle travel for interference. He is setting it up to use on the 58 inch mill table it is on. But he will need a 8 x 18 inch riser for the head to increase table to spindle hieght.

He bought this rotating 24 " table to make a riser for the series II. he is ordering a piece of 18" diameter x 2" wall seamless cold roll pipe to make the spacer. The table is setting on the craftsman tool box. That table has to weigh every bit of 400 lbs

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That rotary table looks like mine but mine is 12" and weighs about 250 lbs, I dread putting it up on the mill its a back buster for sure.