I suppose you could use that part for ball turning but it is very small but then if it was for a watchmakers lathe then it would need to be small but it fits the grinder perfectly, anyway I have totally stripped, cleaned & rebuilt the grinder including replacing spindle bearings & replacing the motor & mounted it onto a box with the power supply and switch, I have ground a graver just to test it all works & it did that without any bother, I just need to work everything out & probably make some other fittings to be able to sharpen small drill bit & make D bits & sort a way to index slitting saw blades they are only 20mm diameter by 0.3mm to 0.7mm thick & Thornton type teeth cutters.
I can’t work out what the ringed part is for it is fixed
Dell
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