I have managed to create my first successful part on my new lathe! It is part of the hot end for a geared extruder nozzle. I made it out of a piece of PTFE barstock I got from McMaster Carr. You can see the Mechanical drawings here, it is the part on the left.
A few weeks ago I wend to Harbor Freight and picked up a 7x10 Mini Lathe. Those 20% off coupons sure are nice! A machine tool is nothing without tooling, so I also picked up a nice tooling package from the Little Machine Shop via amazon. There is a pretty good community out there with lots of helpful information (http://www.mini-lathe.com/ is a good starting place).
Next I'll be moving on to the extruder nozzle which I'll make out of of some aluminum rod stock I have lying around.