I've finally got the Ebay Cheap Chinese 4th up and running with the help of a compatible driver board from Routout CNC, this video shows some testing for a part I'm currently manually machining, two sides have been faced, the compound curved section has been roughed out with a 6mm 2 flute endmill and part of the first pass with a 6mm 2 flute ball end mill is shown.



I now have to machine a permanent plate for the 4th axis & it's tailstock with eccentric buttons underneath to fit the table slots for axis alignment and Y position plus one for X position. 
Apologies for the ropey camera work, also the video quality was far better before uploading to Photobucket

 - Nick

Its not really doing any 4th Axis work though.

Facing 2 sides and roughing the curve were carried out as indexed paths, at -90, +90 and 0
On the path cutting in the video there is A-Axis movement but the video from my phone didn't show it very well, it's only a little but then all that's necessary on a longitudinal path like that is to keep the ball end cutter optimally presented to the work.
In short, yes it is ;-)  
Regards,
Nick