Rob, thanks for going to so much trouble. It's a single phase non-capacitor motor, and as I had nothing to lose I took one end off and cleaned up the centrifugal switch contacts and ring, (thanks for the tip Mike) and blew all the swarf out, at which point didn't my wee compressor give up the ghost with a dribble of smoke ? Gremlins are swarming, so look out !
Reassembly is under way, sufficiently advanced to say the motor runs again, but not yet fully integrated into lathe so unsure about revs being achieved, but looking much better, thanks to all.