Interesting debate to be had about the merits of classic back-gear versus modern electronic speed control.
Some jobs, like threading and turning castings, benefit from spinning the chuck slowly – 50rpm or less. Back gear is the traditional solution. Big advantage is gearing down increases torque and keeps the motor operating inside its comfort zone. This is particularly important if the machine has a single-phase motor.
The disadvantage of back-gear is the fiddle-faddle of putting it in and out of action. Not a problem if a lot of slow speed cutting is on the agenda, but becomes a nuisance when the work in hand involves many fast speed changes. I think fast speed changes are the most useful pattern in a general purpose workshop.
Electronic Speed Control is the modern alternative. It allows the lathe to be spun at any rate at between minimum and maximum at the turn of a knob. Very handy whenever a job hops between cutting small and large diameters, whilst switching between fast Aluminium, medium speed steel, and slow cast-iron. Unfortunately running electric motors slowly reduces their power output and they get hot: the operator has to make sure he doesn't cook the motor or overheat the electronics! The power loss at slow speed may not be serious because, depending on the type of motor, the electronics can compensate. Older lathes keep the motor cool with a cheapo impeller that doesn't work at low RPM: newer ones often have a separate cooling fan.
Basically a trade-off between stamina and convenience. I prefer the convenience of electronic speed control, but on my hobby lathe its still necessary to change a belt to get low speed. (25 to 450rpm). Speed on the high belt is about 150 to 2500rpm, which is good for most of my needs. (Including threading, done in reverse away from the headstock at 150rpm or faster…)
Given speed control, I've never felt the need for back gear, but it depends on what the lathe is used for.
Dave