Im sure it saves time
Man... I remember ripping a carb apart to fix with a rebuild kit. They still have rebuild kits for them, but I doubt most folks would do that.
You could take your starter apart and put in a new bits. You could get your alternator rebuilt - or rewind it yourself if you have the tools. Tires would get retreaded. You could get new gaskets for your AC - but I pretty much never had AC back then.
The list goes on...
And, damned right, it has to save time - at least for the person doing the work. I'm not going to fuck around with a starter. I'm just going to replace the fucking thing - and not with a rebuilt one.
There is a shop not very far from me that rebuilds starters and alternators that I use when mine go bad. They do a great job
Once upon a time, I knew a guy who had the winding machine - to wind the copper wire. He was also an electronics genius. He was seriously fucking brilliant. His actual job was being a machinist - but he was self employed. Companies would come to him to figure out how to perform a process (for like manufacturing shit), get prototypes built, etc... Man, was he brilliant.
You'd have liked him. He too only worked when he wanted to, but his reputation meant he was constantly working. He was certainly pretty well off financially, 'cause the only thing he ever bought was the occasional tool. Most of the time, if he needed a tool he'd actually just make the tool himself.
I have a neighbor back in Maine that's a bit similar. I bought my woodsplitter from him. It hooks to the PTO on my tractor and will split a 4' log.
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