Below are the descriptions of each of these.
Center Lathe
This is maybe the most common type, as this is the basis for the metal lathe. It is mostly used by hobbyists and various machinists. If you ever come across a metal lathe, the center lathe could be easily the first type you will ever see.
Capstan Lathe
The capstan lathe is basically a production machine that is a combination of the actual lathe and a capstan head with a set of various depth stops that are mounted on a turret face each.
Turret Lathe
This is looking almost the same as the capstan lathe, however it works a bit differently. You can easily perform various machine operations such as reaming, drilling and boring.
Metal Lathe
Metal lathe is probably a generic term these days associated with all sorts of different types of metalwork lathes. That said modern lathes can work just as well with solid plastics if the right set up and accessories are utilized. The sort of machines available start from the more basic metal work enthusiast home through to the complex metal work lathes used in industry.
Centering - this is usually a double headed piece of equipment that drills the workpiece from either end as it turns at high speed. Following on from this its common for the piece to move on in the production process to another operation.
Bench - this sort of machine could be classed as more of a hobbyists lathe as it easily fits onto of a work bench. It does have full features however and is larger than either a micro or mini lathe.
Turret - used mainly for repeated parts production. It operates using a turret which basically holds the tools that form part of a multi cutting operation. Once set up there is little need for operator intervention. This sort of metal working lathe can have CNC auto lathe technology applied to it.
Gang Tool - this is a very similar lathe to the turret except that it operates in a more linear fashion than the turret which is basically rotary.
Multi-Spindle - this lathe is often called the screw machine! It can produce a high speed of production churning out parts very efficiently. Again CNC technology makes this a very efficient metal working lathe.
CNC - cnc stands for computer numerical control. Once setup via the computer aided design program or CAD this very modern lathe set up will get to work very efficiently producing work pieces at high speed and with very little in the way of operator intervention. Its not uncommon for an operator to control more than one of these metal working lathes.
Swiss Style Lathe - this type of lathe is highly accurate to several thousandths of one inch. Many people who are interested in more than simple woodworking, such as maybe creating a small steam engine or an internal combustion engine, will need to get a metal lathe in order to complete the job.
If youve never worked with - or even seen - a metal lathe, the experience of buying one can be quite an intimidating thought. This is because the machine is not a typical craft item and the literature on the web on it is not much geared towards crafts and hobbies, but more towards industrial and commercial purposes. So finding what you really need to buy as a hobbyist might be a daunting task without proper research.
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