I've used those "chucks" when using a spoke shave or even when chamfering the corners with a plane and the "dog clamp" (auxiliary clamping jaw) for hand planing longer boards.   And that "drilling machine holder" in the upper picture that Duckie's picture showed can be used like a drill press.  See lower right below. 


There are a bunch of other configurations shown in the manual including ways to tilt and pivot the jaws.    

--Nathan, TX. Hire the lazy man. He may not do as much work but that's because he will find a better way.