Nice catch. Last fall I brought home a ‘47 model of the Montgomery Ward badged Logan 10” lathe (similar, but simpler than yours). Like you I was super excited to get it home, taken apart, cleaned up, lubed, adjusted, and in use. It was a big improvement over my previous Atlas 6” machine.
about the flat belt and flat jack shaft pulley for the v-belt - most likely done to provide some slip in the event of a crash or too aggressive cutting on a smallish machine. It won’t plow through like a big heavy gear head lathe, but I’ve never had any problems with it slipping while machining any projects.
about the quick change tool post, if you go with the common Aloris style, AXA is the size you will want. I prefer the wedge type over the piston type. The cheapest knock offs are hit and miss when it comes to fit and finish. I picked up a Shars (Asian, but decent quality) and have been very happy with it. It’s accurately made with good finish and smooth action. I recommend getting 8 or 10 101 tool holders and a couple of the 102 holders, along with the parting tool holder and the boring bar holder. When buying the holders themselves, generic brands fit and work just fine. If you want to do any knurling, I recommend a scissors type or something similar in order to minimize the lateral pressure wear on the lathe’s brass compound and carriage cross slide nuts.
Have fun with it. Looking forward to your progress.
paulh