my reality isn't that far off, just a bit exxagerated. maybe 15 minutes isn't quite right, but... well, maybe it's just that my home jobs (read boat jobs) take far less time for me to do than customer's jobs. why do i work faster and more efficient if i'm not even gettin payed??
centerless ground is a bit overkill. round bar will work for me, it's just a prop shaft. .875 at a 4 ft length is 65 or so CAD. if you're making lots of shafts it will be chaper....
as far as a "prop shop" being able to make shafts well with the equipment that they've got to do it better - a lathe is a lathe. a mill is a mill. most marina shops have clapped out equipment that came from bucky's 50 miles inland.
as far as the 2 milling setups go, well, that's really only 1. line up a vise, shaft goes in, your Y is along the centerline of the shaft. it's the same whichever end of the shaft you've got in the vise. HSS tools work just fine too, especially in tough materials with small depths of cut. even with hss endmills, 3/4 hour max on the mill for the keyseats. 5 minutes to drill the lockwire hole in the threaded end. the vise is still good to use to, because you havnt't moved your Y which is still in the center of the shaft.
as far as the lathe goes - dial in a bar, cut the taper, cut the major diam for the thread, face the end off, make an undercut with a grooving tool and thread the sucker. with a lathe thats got a quick change tool post, or better yet a turret, some power and is rigid enough to handle a reasonable depth of cut then you're looking at maybe an hour. this is assuming that your lathe man doesn't stop for a coffee break.
this is all assuming, of course, that you're starting from a bare table / machine. a machine shop at a marina makes shafts all day long. more specifically, they setup and run a dozen or more of any given shaft configuration (dia, taper, thread) and leave em real long. so when you need a shaft, all they do is cut it to length. so maybe the first one was worth 300 bucks, but the second and third and the twelfth one that you're getting certainly isn't. maybe there is a bit of room for profit here........
dammit merrill. i'm going to have to stop coming here. all this arguing when i should be working on my boat... cheers