Lathe 15 x 36 - $500 SE MI

Not mine but it's been for sale for a couple weeks and I'm worried they might do something drastic like scrap it just to get it out of the way: http://annarbor.craigslist.org/tls/3104372723.html

Don't be scared of the size or age, it looks like it is/was in working condition recently and you should go through it the same as any used machine tool except this was made in the USA and was made to last. Here's what it could look like all cleaned up: http://bbs.homeshopmachinist.net/showthread.php?t=53086

Also, here in SE Michigan there are places around that can make most any part you need. My lathe is an 80's Taiwan import 14x30 toolroom that I bought cheap with a broken carriage pinion gear. I dropped the old gear off at Liberty's to have it repaired, and they ended up just making brand new one out of tough stuff that I'm sure will never break, for not much money at all.

I would love that, but the 3-phase might be an issue.

How does one setup a 3-phase circuit?

You can't "setup" a 3-phase circuit if you don't have a 3-phase electrical service.

Most residences do not.

You would have to use a phase convertor.

What's the downside (aside from cost) of a phase convertor?

Cost.

Oh wait...

Big lathes are hard to get rid of. I've done environmental assessments of several large textile mills. The lathes are almost always left in the machine shop.

Crap you can make your own phase converter CHEAP. All you need is a twice as lager 3 phase motor then you plan on powering so if your lathe has 5 hp go find a 10 hp in the scrap yard. http://www.nojolt.com/how-to-build-a-rotary-phase-converter.shtml I've made several of them in the past. One we put a SBC flywheel that was out of spec on the motor shaft to add flywheel effect and roll pull to start. The one i have now has a 110 motor on top and an hinge plate i place a belt on the two pulley pull up on the hinge and start the 110 motor then jam in the 220 plug drop the hinge and flick off the belt turn off the 110 motor.

http://www.grizzly.com/products/Static-Phase-Converter-3-to-7-HP/G5843

Solid state, No pull starting, much smaller and lighter than a 200lb15hp 3phase motor sitting there spinning away in your shop.

I have done the diy converter in the past. I am very much a penny pinching cheapskate. I would buy a solid state converter for my garage in a heartbeat.

A VFD for about 100$ will run that thing easily on your house hold power. Plus you can regulate the speed with the twist of a knob. Thats how I have my southbend lathe setup in my garage.

I got my VFD's from here: http://www.dealerselectric.com/ cheapest I found anywhere.

I ran my 10x28 lathe on single phase for about a year, then installed a 3-phase motor and VFD - the difference in performance/power/smooth was SO worth it. I would run a 3-phase motor for ALL my machines if I could.

My lathe on 3-phase: http://youtu.be/Qia0gHijOYY

My mill on 3-phase: http://youtu.be/DnEDExrtrtU