Newbie advice - tailstock piece

[tzavitz]

I'm new to SS and bought a ued Mark V. Has all the parts and is in good shape. I wondered about the tailstock centering piece...it seems to be a fixed item that gets pushed in to the end piece for turning, but has no bearings....does this rotate or does the wood simply rotate on the pin sticking into the tailstock end? it seems like something would get really hot from the friction.....???????????