First.. may be getting a small wood lathe! YIPPY!!!! I recently pulled a motor from a washing machine and asked a friend if he'd take a look at it and wire it up for me. He made a joke about Sanford and Son to which I responded "well, if you have a wood lathe you're offering for a song...". Joke's on me two times when he says "matter of fact, I do. Bring it in tomorrow."
In talking about the motor he's going to wire up, he mentioned that a way to find variable speed motors is to get them out of a treadmill. Never really considered it, but it makes sense. He said they range anywhere from 3/4 to 1.25 hp. Something to look into if you need a motor. I see treadmills going for cheap in the classifieds every day.