Well, the more I get into this, the more I find out I did not know what I was getting into.
Since it's driving off the back gear my maximum speed is not very maximum. My speeds are slow, slower, slowest, and reverse.
The tool post won't hold the holder tight for a darn, it walks over when the tool contacts the work. This may be related to the damaged and repaired T slot in the compound. Although the repair does look decent. Still looking into that right now.
The only way to get the tool close to the chuck is via holder position, the guy that build the drive didn't take carriage travel into consideration; the carriage hits a drive pulley on the far left where there should be another inch or two of travel.
I pulled a bearing cap off of the spindle, someone had used a dremel or something similar to make oil passages in the insert, and left the burrs on the ends. There are little chunks of metal from these burrs stuck in the insert that I can pull off with my thumbnail. Spindle shaft still looks good though. One of the bosses for the cap bolts is broken, one of the four bolts was replaced with a bolt with a shoulder so when it was tightened it took out the side of the boss. Fortunately most if not all of the threaded area is fine so it still does its job.
Well, I'm stuck with it, I'll make the best of it.