Hans-

Yes, the entire head/crank assembly spins within the collar on the upright. And, it spins smoother than any vise I've ever seen - just give it a flick and it wants to go forever. When it does stop, it's balanced such that it will always stop in the upright position (lever in the rear, top of the hook up). As primarily a trout fly tier, I'm not sure that this offers any advantages but ???

You're question about 'what design problem was trying to be solved?' is a hurdle that I see as well. I tie on Renzetti rotaries now and don't know that I see anything in the Regal design that will make my tying better or more enjoyable.

Still, once you sit down and actually use it, impressions can change so I'll withhold judgement.

-ParaHopper