Hi Crimson and welcome to the forum,
Nice first post, and that's a nice looking lathe too you have there. I do like the older machines and why I'm playing with one myself. Well I will be when I get it going...

I've been thinking a lot about power drives myself, mainly for my miller. I think windscreen motors would be a good candidate but you might want to think about some sort of speed control. Variable voltage supply should do it. I'm fortunate in having quite a few from my valve amplifier projects that I could use.
As I see it there are several options available. You could feed the motor 12V from a 240/12V transformer or whatever your mains in over there? But you would have to rectify the 12AC to DC for the motor. Beware of the amperage for the diodes and stuff. Nothing complicated. Also when you rectify the 12AC to DC the voltage will rise a touch to about 14V. This should be ok for the motor and give a little more scope.
Then you want a way to vary the voltage, I would use a mains variac on the mains side, but only because I have a couple handy. Or you can make a DC variable voltage controller. That's a little more complicated and now you really do have to watch the amperage the motor will draw. Components will need to be rated at twice this if you want reliability.
If you don't know how to do this then perhaps you would be better off buying a bench power supply, but they will not be cheap.
Another option would be an old treadmill motor. Treadmills have a variable supply built in. This would be the easy way out as secondhand treadmills can be found quite easily.
People have great ideas about slimming, but the exercise soon puts them off. I think they believe the treadmill does the work for them

There that should give you something to think about....
