You're describing a slotting machine Dave, single point cutter.
The other way of doing internal keyways is a broach, neither of which will do a Woodruff Keyway, the tool I posted is the only way I've ever done them.
The other way of doing internal keyways is a broach, neither of which will do a Woodruff Keyway, the tool I posted is the only way I've ever done them.