That's the way I've created my tools Wizer. I've created the Record DX4000 and the BS350 bandsaw and I intend to make the other tools when I have the time. Its helped in the internal design of my workshop and shows where's the best place to put things.
To what end you are modelling your tools? Are youplanning to use them for shop layout or something else.
Shultzy's right about breaking it down into components. Be sure to copy and mirror as needed to help keep file size down. Also look for symmetry in parts. Split those parts along the centerline and make a component of just half. Then you can copy the half, mirror it and bring the halves together to make a whole. Sometimes you can go with an even smaller portion. Use Hide (Shift+Eraser) to hide the seam lines. Take a look at this for an idea.
Click on the picture.
The clamp component is only 139Kb so it doesn't make a big impact when added to a model such as this:
Dave: I was hoping for detailed drawings but it's now clear that it'd take me months to draw something as detailed as a piece of machinery. The main purpose is in the planning of my workshop, but also for building bases and cabinets for said items.
For now I have resorted to making simple boxes which represent the tool.
WIzer, don't give up on drawing your tools. Draw the parts you need and with the detail that you need to do the job. If I were you I'd make simple box-like components for shop layout including Infeed and outfeed areas so you can identify conflicts. Then, for things like mobile bases, I'd make entirely new models showing the sort of detail you need for them.
Consider that for your shop layout, if you have a dozen tool components and each of those is 500Kb, your shop model goes up to 6Mb without including the shop itself. This can get to be quite unwieldy.
Take Shultzy up on his offer. From what I've seen, he's got some great legs.
Gidon, that was an excellent article. I think the author's models are still available but I would suggest caution with them. They are extremely "fat" models. I've got them on my home computer. I found they need a great deal of cleanup and their file sizes should be reduced before adding them to a shop layout.