Variable Speed Motor for Taig Lathe?

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Danuzzo

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Let me preface this thread by saying that I know very little about electronics. However, I want to modify my Taig lathe by replacing the AC motor with one that I can use a reduced speed. The lowest spindle speed on the stock Taig is around 525 rpm. I have seen that many have converted to a DC motor with variable speed. Also many have used a Sherline motor and controller. I like the Sherline idea; but, I don't like the price, about $380.00 with shipping.

I am looking (and have searched the web) without success for a less expensive alternative that I could just basically just drop in as far as the electronics are concerned. I just don't know what to buy as far as a separate motor and compatible controller. Any info in this regard would be greatly appreciated.
 
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