I can't imagine doing much gunsmith work with a 600# lathe regardless the origin. Maybe ok for making pins. I have a lathe like that at work and pretty much can't turn anything steel on it. The toolpost just isn't rigid enough. Typically deflects and breaks the tool. About all i can do is turn bronze bushings and drill small holes. Cutting threads is going to be fun.
Les Brooks used to chamber pre-turned rifle barrels in a Chinese 7x14 table top lathe, and I know (knew) a famous barrel maker that used a Southbend Heavy 10 to thread, chamber, crown and turn barrel tapers.