Congrats on the new lathe. If you don't know already, a wealth of info on Monarch 10ee is waiting for you at Practical Machinist in the Monarch forum. Hundreds of posts about restoring, repairing, or replacing drives. As your lathe is a MG lathe initially you may find if you are patient that you can find complete drive units available for not much cost other than shipping. Monarch does not support the MG machines anymore, but they have the build print and schematic for your particular machine that may be worth purchasing. Lots of folks love their MG machines, Raytheon Industries in particular still had a row of MG machines in their shop not many years ago. Their service wizard liked em, so that is what they had. the Wards/Leonard drive that was in MG machines was a drive system that many repair people understood as it was used extensively in elevators. Having used a original DC drive EE for over a dozen years and having turned on a couple of retrofit machines, not knocking anyones retrofit, but I would not hesitate to fix my original drive instead of junking it. Only when I had come to the end of my patience would a ditch the original drive and go AC. There is a reason that Monarch stuck with DC drive as long as they did. Not to rag on but my machine which is over 60 years old runs on 40 year old tubes that are weak, and this machine still makes a mockery of any lathe you can buy from Taiwan except maybe a HLVH clone.