Hi Jim,
Excellent video and photographs. I have used the system when ornamental turning, but never thought of using it on pulleys. I was taught to make a form tool with a radius of the core diameter of the thread and turn a groove to a little less than the radius of the core. Then use a similar system to yours to cut the thread? The only difference being the tap being supported by a male or female centre; the centre being a rod held by a Jacob chuck held in the tail stock. The work being done in brass and sometimes steel. I have used the system to make a worm and wheel gear arrangements.
Take care Tony