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I do have one of those nano lathes. It was the first lathe I ever used. I bought it because it was not expensive and wanted to try if machining metal was something I would like to do.
I also bought the conversion kits for converting it to a mini drill and mini mill.
I am now using a Taig lathe most of the time because it is much more rigid than the nano lathe is.
As far as I know, the nano lathe is made by Sieg and known also as the Sieg N1 lathe. It works fine for small items, but the ER-11 collets do not allow to mount watch balances or something similar, because the collet itself gets in the way.
I currently use it mostly set up as a drill. Converting from one to the other takes about 5-10 minutes. The mill setup is not worth much by lack of rigidity. You can only use very thin mills and very shallow cuts.
Hope I could be of any help. Please feel free to ask more specific questions.