Removed the carriage by loosening the two set screws in the frame and removed the 5/8" shaft. Reinstalled it after putting two shaft collars to the right of the carriage and one to the left.
The depth would be set by first establishing a baseline against a blank key. The gap between the rear end of the tracing tip and the shoulder of the micrometer was measured, the red lines below shows the measurement to take.
The photo below is the actual measurement on my machine for an Ilco SC1. The keyblank should be up against the blade and tracer. The photo does not show that because I do not have three hands.
Next the space would be set by establishing a baseline. The right-most collar is tightened down next to the frame. Its only purpose is to have a good perpendicular plane to measure against. The idea is to set the spaces by adjusting the other two shaft collars to the left.
Another bad photo, the end of the caliper is against the other shaft collar. This measurement is the baseline of the first shaft collar to the second one when the butting wheel
(and tracer) just touches the shoulder of the key.
The key blank's height is measured.
Here are the calculations. For the space, I guessed at off-setting the first shaft collar to the right by a few hundredths of an inch (the 50% of width). The space and depth data was from the back of the FB200 handbook, but they are on-line also.
The first depth is set by turning the micrometer adjustment until the right caliper reading is given. The depth micrometer on my machine has markings that are not distinct and I can read machinist micrometers just fine, but can not see the lines on the Foley-Belsaw one.
Then the space is adjusted. The second shaft collar from the right is set, then to save time the third shaft collar (from the right, i.e., the one on the left of the carriage) is set by slipping a washer that is about 0.1" thick between the left side of the carriage and the shaft collar.
For each cut the space and depth was adjusted. I ended up replacing the set screw on the second shaft collar with a thumb screw to make adjusting things faster. Make sure and use the code (V-shaped) cutting wheel. Cut between the two shaft collars.
Anyway, five cuts later and the key worked.
Probably faster to use space and depth keys, but would be handy for keys for which one does not have space and depth keys. A few hints if anyone else wants to try it:
1. I had two different brands of 5/8" shaft collars and one fit better than the other. If they are badly over-sized and are cockeyed when tightened that will not help anything as it will be hard to have consistent measurements. But, the spaces are much less critical than depths unless the spaces actually start running into each other.
2. Probably the shaft will be roughened up eventually after set screws are tightened up against it many times.
3. If possible use a longer key-blank than needed for the tracer (to the right). I should have used an SC4 instead of an SC1. The last cut tried to veer off at the very left of it as the key blank under the tracer ran out of metal as the extreme left of the last cut was made.
4. Loosen the two left shaft collars and the key machine can be used to duplicate like usual.