Tool question/idea, help needed

[Zeal]

Well I am sure by now I became a certified PIA making question threads this much, but guidance at my neck of the woods is lacking....

My father during his lunch break walked into a store that apparently makes custom wood leg shapes and such (I don't know the specifics). He asked what do they use to shape the wood and the gentleman was kind enough to show him. Turns out it is a Spindle Sander. Later that day online I found an article showing that you can make your own Spindle Sander by combining a router table with a router. To me, it looks like a vertical and stationary dremel. Though, would it be worth using to make lures with?

The thought rolling around in my head is would it be possible to make that a vertical lathe by anchoring one end of the lure body to the bit and have something hold the top end while it spins?

Either way, would it be worth the trouble?

Any input would be appreciated as always!