I am happy to say the new circuit board XMT2315 is now working on my mill. A big thank you to Arc for their assistance.
For the record the XMT 2315 board requires a different potentiometer to the original so if you do get the new board from Arc, get the matching potentiometer too.
The new board has clearly marked connectors for L1 and L2 being mains and DC+ and DC- for the motor. the switch on the potentiometer has its terminals at the back A and B and these go to K1 and K2. There is a connector marked GAN this is an earth connection and need not be connected as it goes nowhere on the board. There is another terminal block towards the rear of the board having two terminals. This is for an Estop switch and needs a link if no Estop switch is present. The pot three leads on a plug just plug into the board.
I did a mod to the wiring as the original has the live neutral going to the common of the orange and green lamps. I cut this and made the neutral termination direct into the board ( My green lamp was defunct anyway). If you do not want to do this a new wire will need to be soldered in place to get the live neutral to the board.
The rear switch on the mains switch with wires identified 6 and 7 is not used so these wires can be removed or isolated.
The only peculiarity of all the above is that the orange lamp is now on when running. But I guess that is no worry.
The motor sound different when running and I guess this is due to the replacement board being a SCR (Thyrister) control rather than a PWM (pulse width modulated) control.
My next check is to see how it performs under load. Hopefully I will see no difference.