I finally came to grasp with my limited ability that I should start from ground zero and use my multi meter to troubleshoot everything in that electrical path.
Once I could proof out logically the switch and make sure that the terminals were correct. I then said okay low speed it just UAVAWA connected to line. Which ends up being correct on the sheet supplied (so I bought the right switch after all). High Speed is then UAVAWA all jumped and line into UBVBWB again shown electrically on the switch diagram.
Once I got the switch hooked up motor would still not work. What would happen was the thermal breaker would trip, thinking I still had something shorted. I check the breaker and sure enough it had gone bad. Mind you these Siemens mechanical breakers are something to look at neat little machines in themselves. I noticed a tiny, must of been a 25 gauges wire was melted on the coil side of the breaker. It was something I could not get to without disassembling, and that would of destroyed the breaker as it was riveted together. I figured I would upgrade to something modern at this point, received it last Wednesday and put it in this weekend. Fired her up and was able to cycle through the two speeds.
I am thinking I will slowly upgrade all the breakers.
What I learned is before applying power to things you don't know much about think it through and run your non-destructive tests. I played around enough with it to have that sinking feeling that I cooked the motor windings. No shop would touch this motor as it 1/4 HP but its casing is machine to fit nicely plus it has a mechanical brake built in to slow the workhead down quickly, this includes a slow timed limit switch to cut power to the motor.