Lucky escape ! do you think the spindle lower bearings are cooked ? I'm thinking about the grease in them for one thing.
Regarding the E/Stop, I got one of those ready assembled ones in yellow plastic box and I'm thinking about putting a length of CY cable to it, securing a strong magnet to the bottom, thus allowing it to be moved to various positions around the machine depending upon what I'm regarding as the current 'best position'.