4th axis subs??

[Trebol]

Hi there.
I've searched through the forum, but can't really find anything that helps me...
Can this be done with Axis subs?
I want to use my 4th axis to mill some round bar to a smaller diameter (a lathe would be better but I would like to know if it can be done using axis subs).
In the past I've selected pockets etc. on a piece of round bar and Xformed it to a flat and applied 2D toolpaths but can't quite seem to do this to get the full 360 degrees.
That is, I would like the tool to descend in Z to the cut height and either have the tool run up and down the part and move A by a stepover amount or more preferrably have the tool down and just turn the A through 360 deg ubtil the whole part is roughed...
So: 1. is this poss with just axis subs i.e. no 4th/5th module...
2. what is the toolpath needed to do this?
Thanks for the help!
Cheers Marty.

[Trebol]

To put it another way I've attatched a picture.
Lets say I start with round stock and wish to machine away the center part (basically a rotating pocket...).
Is this possible with the tool coming straight down (in Z) and having the part rotate to cut out the material, or even run the tool axially (along X) to depth, then step around X (with the 4th) a small increment then run the next axial pass until its done all the way around?
Can this be done with Mill lev 3 using axis subs (i.e. the table is locked in constant Y, movement is in X,Z,A) and if so how would I achieve this? I've tried alot of Xform roll stuff (flattening and placing geomety at -90, the same way say a pocket would be done which is not full 360, but can't seem to get what I want here...) but not really having much success at this stage...
Thanks in advance!