Yes, blueheavenfla, I 'do remember' when fabric was called material AND when it was $2 to $3 for good material.
DH and I saw a movie once about two English clothing designers who were using this machine on the show and your thoughts are what I thought also. Some on the board here do sew lots with handcranks but i haven't so far. If you notice, there is a groove in the wheel which I imagine means it could be set up to treadle also. As the saying goes, 'we've come a long way baby'!!!!