Hi Tweakie, Not a stupid idea, now I've converted to cnc I find that 1750rpm is way too slow. Trouble is that it has a 2 speed 380v 3ph motor so buying an inverter is going to cost a fair bit.
Just had a look at the model T Chester does, It does look very similar but has many differences, and luckily I didn't pay any way near that kind of price for it. I'll give them a ring to see what they suggest with the oil.
Cheers
John