Regarding the babbit bearings: as newly poured bearings, there typical are removable shims between the upper and lower halves of the bearing. These shims can be changed to thinner or thicker ones, or be removed or replaced with fewer or different ones, or to a lesser extent the fit can be adjusted by the degree to which the bolts are tightened. If it comes to repouring, it is not all that difficult.
Regarding the motor: is a phase-convertor a viable option? Can you simply change a pulley or two to achieve the desired speed?
Regarding the tires: if the wheels themselves are not crowned then the tires must be crowned after mounting.
Good luck; it is well worth the effort.
I bought this a while back, and just used it for the first time today. It's Awesome!
I bought some Mirka Abranet sanding screens for it when I ordered it. Just hooked up to a ShopVac, the dust collection really surprised, and impressed me. It's twice as fast, and leaves a smoother surface than the 5" one hand ROS's.
I don't do much sanding, but feel really glad that I bought this. Originally, I bought it in anticipation of sanding the painted fascia's on a lakehouse we bought a while back to rent out, but weather hasn't been suitable to work outside yet. It just came out of the box for the first time today.
It was one of my Black Friday purchases, so not quite as bad as this:
@BillyJack Have you tried the Mirka discs they're touting now that aren't really sandpaper but something that's supposed to last longer and vent dust easier? I was just thinking I should order some. I've not used their belts but the pack of discs I bought a few years ago are still doing quite well, and I thought a good value for the money.
I just read "The Cabinet Maker's Notebook" cover to cover in a couple of days and well, I'm going to have to read it again with a highlighter or a notepad. So many great nuggets of, not only woodworking, but running a business and working with clients. It's funny because it is a bit of a retrospective book, of some of his times before he was so famous. It's important because he was telling customers "no" before he could really afford to because he believed in his own work. Such a valuable lesson to be reminded of over and over.