1947 Craftsman Model "80"  9-inch swing by 30 inches between centres.
When production of Craftsman wood lathes started again after World War Two the better of the two machines introduced in 1947 (1948 catalog year) was the Model "80". Despite its No. 1 Morse taper, 3/4" diameter headstock spindle running on plain, "Oilite" self-lubricating bronze bearings (and one ball-bearing race for thrust) this was a respectably heavy (78 lb) machine with all its main components in cast iron. 
Unusually, the headstock spindle carried no thread, instead a square section was formed on its end - with faceplates and other fittings held on by grub screws - a horribly crude system that only lasted for one year - the 1948 models being fitted with not only a proper thread, but a ball bearing spindle as well, of a type first used in 1933 ....
Four spindle speeds were provided of  875, 1350, 2250 and 3450 rpm - although the motor and 4-step V pulley required to produce them were only available at extra cost and,  at $18.50, increased the price of the basic lathe by a massive 39%. If you could find your own motor it was recommended that a 1/3 hp, running at 1760 rpm, be considered the minimum that would provide a satisfactory performance. The lathe could be driven from either behind or, with suitable slots cut in the bench, from below. No speed- reducing countershaft (Sears called them 'jack shafts') was used, the motor, as on most wood lathes, drove the spindle directly.
A cover could be removed from the left-hand end of the headstock spindle to reveal a left-hand thread on which a faceplate could be mounted for large-diameter "outboard" bowl turning. Strangely, Sears missed the opportunity to offer a proper bench-mounted tool rest for this activity for non was ever listed in the accessory pages.
The lathe was finished in grey enamel with chrome plated fittings and decorated with what was to become a trademark of Craftsman products, an imitation "engine-turned" decorative cover over the headstock. The machine was 101/4" high, 85/8" wide and 101/8" long - and when introduced cost $47.50. Production of the lathe in an identical form continued until around 1959, when it was replaced by a new round-bed 12-inch swing model (shown at the bottom of the page).

A square section was formed on the end of the spindle - with faceplates and other fittings held on by grub screws - a horribly crude system that lasted for just one year on the Model 80 but for over thirteen on the Model "40" (later "Dunlap").

1947 Craftsman Model "40" 8-inch swing by 24 inches between centres.
Introduced alongside the Model "80" this lathe cost just $30.50, some 36% less. The same cast-iron construction was used for the major components - the weight of the basic machine was 54 lbs - and the motor could be made to drive the spindle from either behind or below. The electric motor and its 3-step pulley were, of course, extras - not surprisingly for, when supplied with the lathe, they raised the price to  $49, an increase of over 61%.
A cover could be removed from the left-hand end of the headstock and a large faceplate fitted for bowl-turning - although, as for the Model 80, no tool rest for this kind of work was to be found in the accessory lists.
The "Craftsman" name was used until 1951 when it was changed to one last used on a wood lathe in the early 1940s - Dunlap. The machine continued in production until the early 1960s - outlasting, by a few years, the original Model "80"

Having disappeared from the lists in 1954, by 1956 the demand for a really cheap wood-turning lathe must have persuaded Sears to reintroduce the 8-inch by 24 inch "Dunlap" model.
With a 3-speed (1025, 1750 and 2985 rpm) spindle it was priced at $29.50 against the $51.50 of the Craftsman ball-bearing spindle lathe; it still retained the unthreaded spindle nose and plain Oilite bearings of the original model.

As the "Fifties" ended, Craftsman introduced this ball-bearing headstock, 12-inch wood-turning lathe. Built on a nicely ground, heavy-walled 21/4"-diameter steel tube with a cast semi-steel headstock and tailstock, the lathe had a 6-inch centre height, admitted 37 inches between centres and was provided with a 12-inch long tool rest, the working edge of which was handily marked out in inches. A riveted-on 1/2" inch wide steel key ran nearly the length of the round bed to locate the tool rest and tailstock. The spindle pulley was drilled with a ring of 36 holes indexing holes on its inner face that could be engaged in the usual way by a spring-loaded pin.
The spindle was threaded 3/4" x 16 t.p.i., had a No. 1 Morse taper, ran on sealed ball races and could be driven from either behind or below. The recommended motor was a 1/3 hp, 1750 rpm that, with a 4-step pulley matching that on the headstock, produced speeds of 875, 1350, 2250 and 3450 rpm. This was probably the last American-built wood lathe to be offered with a "Craftsman" label and, unfortunately, in an attempt to make the lathe as cheap as possible to produce (in 1959 it cost $56.95) design features were introduced that both limited the machine's specification and its ease of use: there was no provision for outboard bowl turning, the centrally-disposed and awkward-to-operate handwheel on the tailstock spindle made drilling difficult; the No. 1 Morse centres and tiny headstock spindle reduced the lathe's capacity for hard work and the too-short locking handles on the tool rest and tailstock were fiddly to operate. The left-hand half of the "headstock" (that appears in the picture to be part of the casting) is really a removable, stamped sheet-metal cover for the pulley and belt - the actual headstock casting being rather shallow and the outer surfaces of the ball bearing assemblies only about 21/4" apart, that is, too close together for really good spindle support against side loads. However, these various departures from an ideal machine design are not as serious in a wood lathe as they are in a machine for metal-turning and the round-bed Craftsman was an entirely adequate machine for its intended hobby use in a home shop.