Bones are great if you've actually got linkages that must go through some fairly wild articulation. But, bones are usually associated with orgainc objects, whose surfaces (skin) must move and/or fold, "following" the bone(s), like arms joints, knee joints, and clothing. Bones should never be necessary with mechanical objects.
However, since Anim8or doesn't have the means to change the pivot point for an object like many 3D modeling programs (such as LightWave 3D, which I also use), you must always remember to model each individual rotating part with its pivot point located at the origin (0,0,0). Then, you'll need to locate the object where it rightly belongs on the overall model. Just be certain that you "parent" the object to what it may be attached, so it will "follow" its parent when the parent moves. This is referred to as model hierarchy. Of course, if the object will only be translating in X, Y, or Z, and not rotating, then, you don't need to worry about placing it at the origin (complicated, huh?).
That's all I've ever done with all of the mechanisms I've modeled that appear on my website,
www.rudyschneider.com , even with complex, multi-axis motion objects, like
www.rudyschneider.com/AntPos.wmv