It works! I just finished the final assembly and wiring. Now I've got a toggle switch on the motor mount for the high/low speed selector, and the regular on/off switch on the front of the power head. The one-way clutch does its job, letting the low speed motor stop when the high speed one is running. A quick guesstimate on speed puts the lowest speed at around 100 RPM or a little less. I haven't done any heavy-duty drilling yet, but I did mill a key slot in the one-way clutch assembly a few days ago using one of the lower pulley speeds available with the original 12-speed setup. With the 12 slow speeds working, I should be able to do some serious big-hole drilling. I've got Silver & Deming drill bits up to 1 1/8" diameter for steel, and Forstner bits for drilling wood up to 2 1/4" or so.
Now I can concentrate on getting my table saw, jointer, two bandsaws, and a radial arm saw, plus another metal lathe and a Bridgeport mill in operation! The tire changer, wheel balancer, beadblaster, and hydraulic llft are next in line!
Jerry