  We describe a spin-resolved electron spectrometer capable of uniquely
efficient and high energy resolution measurements. Spin analysis is obtained
through polarimetry based on low-energy exchange scattering from a
ferromagnetic thin-film target. This approach can achieve a similar analyzing
power (Sherman function) as state-of-the-art Mott scattering polarimeters, but
with as much as 100 times improved efficiency due to increased reflectivity.
Performance is further enhanced by integrating the polarimeter into a
time-of-flight (TOF) based energy analysis scheme with a precise and flexible
electrostatic lens system. The parallel acquisition of a range of electron
kinetic energies afforded by the TOF approach results in an order of magnitude
(or more) increase in efficiency compared to hemispherical analyzers. The lens
system additionally features a 90{\deg} bandpass filter, which by removing
unwanted parts of the photoelectron distribution allows the TOF technique to be
performed at low electron drift energy and high energy resolution within a wide
range of experimental parameters. The spectrometer is ideally suited for
high-resolution spin- and angle-resolved photoemission spectroscopy
(spin-ARPES), and initial results are shown. The TOF approach makes the
spectrometer especially ideal for time-resolved spin-ARPES experiments.
