Hello Paul,
I have the smaller Junior machine, which is very similar to the M1. My knee winds pretty much all the way to the bottom so something is wrong on yours.
The obvious candidate is wear in the knee dovetail guides, the more heavily used areas being higher up. Strip and inspect is the way to find out. To get the weight on the knee down to manageable levels it would be wise to remove the table complete, not forgetting to release the cardan shaft on the rear right hand side that drives the table feed via the leadscrew.
A less likely possibility might be that someone has dragged the machine out from where it was with a rope round the vertical ACME lead screw that the table is raised and lowered by and the resulting bend is resisting screwing through the feed-nut. Again, strip and inspect and straighten the screw if bent. It is soft, so will respond well levering against a close fitting hole in a baulk of timber. How do I know? Mine was in that state when I bought it and as a second such job I have straightened a Landrover track rod after some idiot put a tow rope on it!
Regards Brian