Guys i think you both have run away with this one...LOL! he just wants to get his lathe up and running in a quick turnaround. No mention of servos and taping etc or even CNC?
I would like a servo controlled lathe though. I keep looking at a place i know for a decent servo suitable to build one from scratch. He takes them off the scrap and normally tosses them to one side. A servo to replace a 3hp equivalent motor would cost a lot of wonga?