There are several ways to do it,but you will need a rear steady rest of some kind,OR a rear chuck for doing tips,otherwise the shaft will flop around inside the spindle,I know that because a less-than-skilled guy in Memphis did that to one of my shafts.
You would need to buy a 2nd bed,an extension of some kind,or go another way to give you a tailstock to support the tip out in front of the tailstock as well. This is the reason I haven't gone the "one machine for everything" route yet.
I have a small-headstock Cuesmith now,but my opinion is for tips and ferrule work,the machine you are looking at is a better option,plus it's versatile as hell. You'll be able to make joint protectors if you have the right taps,thread your own pins,etc.
You'll need to make collets for various size shafts,or come up with a different way to protect the wood from the hardened chuck jaws.
Unless you out a quick-change toolpost on it,you'll need either 5/16 or 3/8 shank cutters and a feeler gage set so you can shim the cutting edge to true center.
People here have helped me a bunch,so I'm giving you no bullshit info to help in return. Tommy D.