Hi all, firstly, many thanks for the suggestions, and support this thread has given me, its been quite a learning curve! Here is where I am!
I seriously considered the treadmill motor, even bid on one that was on fleabay local, but, then I thought I still need a controller of some sort, and would need to fabricate some sort of motor mount, and in the end, I would be cannibalising a nice machine that has sentimental value, not to mention some upgrades, I know where its been since new, I know who supplied it, so, the friend who I got the machine off was a model engineer, I had two model boats of his that had been in the attic for nearly two years, these raised £100 last week on ebay, so in a strange way, he funded the repair

I had a few long conversations with arc euro trade, who had the record of the original purchase. They tested the motor and board on a machine, and found both faulty. The motor was ok on low speeds, but once running fast, massive arcing, sparking, and the smell of death. I am considering writing to the guy who pumped AC through it and ask for a contribution, which I think is fair?, any thoughts? The fet I fitted had failed, more than likely due to me! the pot was faulty, and there was possibly damage on the circuitry. The motor had more that likely ruined the work John had done.
So, the saga was prob, board fet all along, cheap easy fix! John fixed this, but in the meantime the motor is damaged by the "expert", which then resulted in the motor taking out the repaired board, so I now have a new motor, new board, new pot, £200!!
Hopefully all is ok now. I ran the motor at various speeds for 15 mins, it was stone cold, all seemed well. Arc euro suggested that as I only use the machine now and again, wrap the motor up to insulate it, and I have now brought the controller indoors, to stay in the house until needed................... Missus wont let me bring the lathe in! so that will be the next saga...

Many thanks
Paul