not trying to jump in here, but I dont think I understand your question, the machine build would be easy.........
the programming of that machine would be another issue? so, are you asking about a Wizard to program this? or a Good Cad/Cam package?
There is a guy somewhere on here, or the Yahoo forum that did a "4th axis Wrap", kinda example in where he took a "Flat Drawing" of the round profile, he
then converted the A axis to the Y axis and left the X as normal, he ran an equation on the Y converted to A axis I think it was a Wizard, in where you entered in your round diameter and then went to town.............
I just cant remember where it is or what it was called, perhaps someone else who may remember better than my old noggin can point you there.......
scott