My Craftsman 12X36 (101.27440) runs a 1/3 HP motor. I don't do commercial or heavy work though. I have stalled the spindle through poor setup or practice. But the motor didn't stall, the belts slipped. I run the machine with a 120 V, single phase Baldor Farm Duty motor. That motor is Totally Enclosed Fan Cooled, NEMA class TEFC. A little overbearing maybe, but I like those motors. And the price was right. . .
If the machine is "free", as in "loose", anything over 3/4 HP is like using a howitzer as a flyswatter. For serious shop use, 1/2 HP should suffice. I would look more toward the motor than the lathe. Not so much "underpowered" as the motor is not putting out rated power. Chinese motors are rated by current draw rather than "Prony Brake" torque. Many American manufacturers also now follow this practice to stay in line with "international standards". Baldor, as of 10 years back (or so), still follows the old school standards.
In my opinion, if you need a stronger motor, maybe you need a larger lathe. As in you're taking too heavy a cut. I can run 0.075" DOC on aluminium for roughing work. Usually I take less because of the size of the stock. As noted, I have stalled the spindle with the belts slipping. To power through that situation could conceivably damage the machine. And the motor will cost much less. Get a good Baldor 1/3HP Farm Duty motor at about the same cost as an Emerson 1.0 HP. Note that I am not up to date on prices, I am comparing prices at a theortical level.
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