A tiny machine, that weighed 93/4 pounds and stood just over 8-inches high, the Goodell-Pratt Model 700 lathe admitted 31/2" between centres and swung 5" over the bed. Easily recognised by its distinctive, cast-in bracing ribs on the headstock and mounting foot, the 700 also formed a basis for a range of simple "polishing" lathes, the  Model Nos. 28, 29 and 291/2. These versions carried a 2-step flat-belt headstock pulleys (with the larger grooved to take a round belt for running at high speeds) with the 291/2 boasting a screw-feed tailstock, a spindle with a taper in both ends, a left-hand outboard "false nose", an arbor to carry a small saw blade, a Jacobs chuck and a small faceplate of the typical Goodell-Pratt twin-slot type. The Model 29, which cost just $1 less, used a standard spindle and an ordinary "push" tailstock barrel - but was otherwise (apart from the false nose) identical.
In comparison with their very modest claims for the larger Model 125 lathe (…reasonable accuracy ….We do not claim to make a precision tool….) the makers almost eulogised the 700 claiming that is was: "thoroughly practical in every way, and capable of all classes of work within its capacity …." and: "… thoroughly well made, and in perfect alignment." However, conscious no doubt of the distrusting nature of tight-fisted customers, hurriedly added the rider, "...yet all unnecessary expense has been eliminated."
The bed, of a lighter pattern than the models 125 and 494, had a top that was milled and then hand scraped to leave a pleasing though probably just cosmetically-attractive finish. The spindle, carrying a 4-step pulley for round-rope drive, was bored through 3/16-inch and fitted with a draw-in collet holder; a centre was supplied on a collet, there being no Morse taper socket. Although the headstock was without a Morse fitting, the tailstock carried a tiny No. 0 fitting.
A range of simple but effective drive systems was offered consisting of countershafts Z and PZ, both designed for use with the Model 700 lathe in conjunction with the Nos. 116, 35, 117 and 122 "Foot Power" - as the makers described their floor-mounted, treadle-operated drive unit. The "PZ" Countershaft was designed for wall mounting and was strong enough, claimed the makers, to also accept power from "steam or electricity". Whilst the four drive pulleys were stepped from 2 to 3-inches in diameter, and sized for 1/4-inch round belting, the single driven pulley was grooved in the centre so that the owner could choose to use either a 1/4-inch round or a 1-inch wide flat belt. The lighter "Z" countershaft was designed for bench mounting. Details of the "Foot Powers" - neat little foot-operated motors which were easily adaptable to other small lathes and power tools -  are alongside their illustrations at the bottom of this page.
An astoundingly wide range of useful accessories was also offered (some more expensive than the $44 cost of the basic lathe) all designed to convert the machine into a miniature universal tool..

Model 29 1/2 as a simple polishing lathe and in its original black and vermilion colours. The 2-step flat-belt pulley had a groove turned in the larger pulley to take a round "rope" drive. The spindle oilers were originally turn-top (not flip-top) units and  screwed into a 40 t.p.i. Thread. The correct type can be seen on the Model 125 lathe on this page

Original oilers

Goodell-Pratt Model 700 "Precision" lathe in a fitted wooden box with a "Figure Z" Countershaft, "Figure G" Table Rest, "Figure D" Saw Arbor (but no saw), "Figure V" Step Collet and four Standard Collets to hold 1/16, 1/8, 3/16 and 1/4-inch bar. The price, in 1926, was a heady  $72.

The expensive Boring Attachment No. 720 (it cost only $4 less than the lathe) was clamped to the tailstock barrel and could be set to within 0.000125" by using a vernier scale on the handwheel. The cutter could be offset by up to 3/4-inch and so bore holes 11/2-inches in diameter.

Designed to fit to the No. 710 Compound Slide Rest the Goodell-Pratt vertical milling slide featured a detachable 48-tooth indexing attachment able to hold the same collets used in the headstock.

Sometimes found stamped Massachusetts Tool Co. the slide rest (Part No. 710) for the Model 700 lathe was an expensive item - costing within $3 of the price of two basic lathes. It was a proper compound unit, with the tool slide able to swivel 360° on the cross slide; both feed screws had graduated micrometer collars and gib strips were fitted to provide adjustment to the fit of the slides' hand-scraped fit. The unit simply clamped to the lathe bed, with the travel of the top slide providing a longitudinal (or angular) feed of 23/4-inches - the same as that for the cross slide.

This Geared Foot Power unit, with a 3 : 1 drive ratio and twin pedals was the best offered by Goodell-Pratt. In comparison with the lathe it was a substantial unit which stood 23-inches high and weighed 81 pounds.

The lighter, simpler single-pedal "Foot Power" was made in three versions. The No. 116 had a 161/4-inch diameter flywheel and weighed 25 pounds. The No. 35 employed a 20-inch wheel, weighed a much more useful 64 pounds and allowed the treadle to remain stationary when not being worked. The most expensive version, the No. 117, used a leather-strap pull instead of a chain and featured a spring return to the pedal movement.

The Sawing Attachment No. 725 was designed for light pattern or model work in wood. The adjustable table was 4-inches in diameter; the machine had a 5-inch throat and the 4-inch long blades a 1-inch stroke.