Correction to my previous post: The "fluffy wheel" upon closer examination is a fine wet wheel for precise sharpening of edged tools. I hadn't noticed the basin seen here.

Rough stone, fine stone, strop. So zen and gratifying. Man, now I really miss my lathe.

That is most definitely a pen maker's set, IMHO. Whoever put this one together seemed to know what they were doing and had some experience. Here's what each machine is for.

The mini table saw at the back is for cutting rough stock into a usable shape for the lathe. With it's placement and position at the back, it probably can't do anything more precise than that.

The buffing wheel to the left (the fluffy one) of that is for polishing the finished product (probably with linseed oil or beeswax).

The rough wheel in front of that and to the left corner is for sharpening the lathe tools (chisels,gouges, skews) and other edged tools.

To the right of that is a mini band saw which looks gentle enough for finishing work and could probably accommodate sanding belts as well.

Center stage and front is the lathe. This is where the real work is done. One of these mini-lathe rigs is small enough to be treadle powered (this whole setup may have been originally).

At the left front is a small drill-press. Invaluable to a lathier or any wood worker.

Finally at the back right is what clinches this as a pen maker bench and probably confused a few folks. This is a hammer set for metal working. This would be used to fashion lapel/pocket clips, rings, nibs (if really talented) and whatever else may be needed. This could probably be used as a vice in a pinch as well.

So there's my theory.