As I understand it, the runaway situation only presents itself with series wound motors, especially larger ones. The shunt motors are self limiting, as are the compound motors AFAIK.
My motor theory is in the distant past, it's something to do with back emf induced in the armature I think. And while I have no experience with DRO's (but I would like to ) but do have experience with RF interference, the brush noise is a definite consideration.
Most of the things that we do in our home shops that are not for profit ventures depend on the material on hand. So in that light, using a motor that you have is superior to not using a tool because you don't have the BEST motor.
I have found that large 3 phase motors are much easier to find than large single phase motors. And both of those are easier to find than large DC motors. A lot of the larger surplus DC motors were rated for fork lift service. In that use they drive a pump, which presents no radial load on the armature. Transferring 5 HP though anything that present a radial load would likely be a problem for long term survival of the motors bearings. I hate to build something around a part that will fail and then cause an major redesign...
paul