Great catalog link, Roger.
It still seems odd a manufacturer would make a tool with a projection on the end so it could be used to punch/set nails on a work site planned in the future on rehab work. These tool were for new construction. I for sure would not risk hitting a nail with my sweetheart adze on some old wood with nails in it. And if I need to set nails below the surface I would use a proper tool, a nail set and a big one. If memory serves well, large nails don't set easy. A well placed measured swing of an adze will not do much on a spike, it is too light.
I still can't see it. I have all the confidence the workers back then were very capable and had good eye hand coordination.