I haven't read every post here, so please excuse if this is redundant. Instead of changing the pulley (or gear) system, has anyone tried replacing the motor with one from an old treadmill? Cost $50-$100, you can have continuous speed control from a crawl on up without changing belts or gears. Plus, it's reversible - I use it for tapping too. Most treadmill motors are over 1 HP, and run to maybe 2000-3000 rpm max. You can get really high torque at very low speeds with the right kind of PWM power supply, but I just took a Harbor Freight router speed control ($20) and a full-wave rectifier rated around 25 amps to change the AC to DC - which is what they run on and why they are reversible ($10), and a double-pole-double-throw (DPDT) switch to reverse the current flow to change direction, from the local hardware store($10). It does just about everything I need for a drill press.