Hi All
Thank you for the kind remarks.
Rob - the finish looks better than it feels - but I've seen the finish on some of your projects

and I appreciate the comment.
Jonny - I hadn't thought about that

but it ought to be possible to reduce it to a sensor, microcontroller and stepper driver. A mechanism that could be mounted in the toolpost and advanced by stepper would make it usable on virtually any lathe.
Trevor - I'm very keen on recycling stuff - or maybe

just averse to spending money. The only thing I bought for this project was the spare topslide which was missing the dial and handle anyway.
Swarfing - The old laptop is running Windows 98 (which is an advantage as later versions make access to the parallel port more difficult). I've written a program in QuickBasic to control the stepper motor. (QBasic would have worked too.) There is a little bit of machine code in the program as the sensor uses the parallel port interrupt to make sure it doesn't miss counting any teeth. I've not done any programming in assembler before so that was a challenge.

I ought to record my thanks to Allegro Microsystems who made the gear tooth position sensor (ATS616LSG). I couldn't find a supplier in this country and they gave me some free samples.

Thanks again for the comments.

Russell