I recently acquired a late 1970's "Engravograph" I-LK II manual rotary engraving machine.
Kudos to the manufacturer (who is still in business) and offers (some) support for these older machines through their dealer network.
Many (many) years ago, I spent a couple of weeks working with a very similar unit. I had a sheaf of type-written alphanumeric codes that had to be turned into engraved ID tags for two industrial buildings worth of electrical cabinets and control panels. Just the thing to assign a nerdy, detail-oriented kid.
This particular machine came with two sets of capitals-only fonts, extension posts for tall items, an auxilliary clamping vise, and three typeface carrier strips.
Supposedly you can perform light duty profile milling if you have the right cutting bit (small scale model locomotive frames?). I do know that circuit board traces (for a Launchpad device?) can be outlined if you are able to create a template to follow with the stylus. I've heard that free-form templates can even be hand-cut from heavy linoleum sheet...