This is one of the best attachments for your 401! It does work on other machines as well - it comes in a slant shank version for the 401, 403, 500, 503, 600 and also a low shank version for your 319, 328 or other low shank zigzag machines. (It only works with zigzag machines.)
You start out by installing the feed cover plate and then the attachment. The feed cover plate will vary by machine, and it might be a trick to find the right one. But the one that fits Slant-O-Matics like the 401 usually comes with the slant shank version of the monogrammer.
You insert the plastic letter template (flat piece sticking out on the left) and crank it in, then you use the plastic letter guide to show you where to begin stitching.
Then off you go!
This is a fantastic attachment that makes spectacular monograms. Here are a few samples:
Now...about the letter cams. When the monogrammers were originally sold, they came with a flower cam and THREE letters of your choice. So when you see these for sale on ebay, they come with only a few - if any - cams. It is VERY rare to find an entire set of them and if you do it will run you close to $200. However, you can sometimes find individual cams for sale here and there. What all this means is that collecting the cams can be costly and time consuming. It takes some persistence - I've been collecting several years and finally have the complete set of cams!
I don't need any more sewing machines, since I have what I consider the perfect line up for my needs:
301 for straight stitch and majority of my sewing
503 for zigzag and decorative stitches
221 for sewing on the go, and occasional backup topstitcher (the Featherweight has very precise control, making it easier to do fiddly topstitching sometimes)
BL3-408 for serging
(There's a 15-91 lurking around in there too, but its so big and heavy I rarely bring it out to play.)
That's really all I need for the sewing I do. But I have a soft spot for Slant-o-Matics and I've heard raves about the 400 machines. So when I saw this one on CL I snapped it up. It came in the nice table with its matching chair (in a godawful ugly upholstery, but hey - I can sew, can't I?) and the accessories.
(I'm selling the table, which I don't have room for, so its not pictured here.)
So what this machine is, basically, is the 301 with a drop-in bobbin and the spool spindle on top. Otherwise they're not much different.
The bobbin is identical to the 503, so I'm familiar with it.
The bobbin winder, though, is identical to the 301, and folds down flush with the machine. Oh, and it has the elevated throat plate like the Rocketeer rather than a feed-dog drop like the 301 - one other significant difference.
What matters most, of course, is how it sews. And it sews beautifully. Very fast, very smooth, and a perfect stitch just like the 301.
BOTTOM LINE: This is a very sturdy, basic machine. I've heard they were used in Home Ec classes because they are durable and easy to use, and I can see why. The threading and operation is all very simple and there is hardly anything a hapless student could do to wreck it (other than throwing it out a window.) It would give great results with little fuss - exactly what a basic machine should do.
If someone wanted a good beginner's machine, especially for teaching purposes, this would be at the top my list of recommendations. Forget the cheap plastic machines at Wal Mart for a beginner, they are (pardon my French) crap. Why not get a fuss-free, reliable, fast, and strong-stitching machine that will make learning to sew fun and easy? And I only paid $30 for this machine - anyone can afford that!