I agree that the tooling looks like its designed for cutting steel. I was once offered a job at the LIRR in the machine shop, because they were looking for people to replace the retirees, and nobody young had any clue how to run the machine for truing the wheels for the cars. At least thats what i was told. And thats what I thought of when I saw this big puppy. That maybe it was for working big wheels.
Im still unsure about it, and will continue to research, for no other reason than my curiosity demands it.