My first lathe is a Frejoth/Central/Grizzly 12x36 Lathe

I have replaced all of the oil-contaminated switches.
The emergency stop is a bit exaggerated :)

The red rotary switch is a direction switch. I would rather make a specific selection to go either forward or reverse than to rely on the travel of the start lever to perfectly land in the right catch. There is very little resistance on the start lever when moving it from "forward" to "stop", that it is too easy to lift it all the way into "reverse". Something that I didn't have a problem with on other lathes, but this one really has no catch in the middle to force the start lever to resist being snapped suddenly from forward to reverse.
In the photo below you can see both forward and reverse limit switches have been removed (lower right of photo, unused pair of screws sticking out). I've put back only one limit switch and a new one there, too.
Now to go forward the selector switch has to be rotated to the FWD position, and I don't have to fuss with the start lever slipping into the wrong position when I bump it off.

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With the control panel working well now, I moved on to installing a tachometer:

That's working, mostly, but has a glitch in it. Maybe just because it's inexpensive stuff from overseas...
 
Bought one several years ago had <20 hours on it. Reall good condition and came with all attachments.

Things I need to do.

Relocated Saddle Lock so I can insitall glass scale.
Install DRO
Make brass oil level inserts sealed.
Level and set spindle thrust.

If I were you and your not sure if its been done is to flush the spindle bearing castings There may be leftover casting sand. The PO may have been lucky and it had all settled or was drained.

Another usefull update is to put a 2HP 3PH motor with VFD in it. Your surface finish will improve and your won't have to fuss about the belt changes.

I like it but the next Japanese lathe that pops up for cheap money near me I am selling this one and upgrading.
 
I have the Frejoth branded version of the same machine, and I’ve been very happy with it. The only potential issue I will add is that the half nut carrier engagement is a week spot. The carriers are cast, and the edge distance gets really thin, so mine cracked and wouldn’t engage. +1 for Grizzly keeping parts in stock, although I wound up doing a silicone bronze tig braze for the repair. I did order new carriers from grizzly in case it happens again.
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That open area in the middle of your stand would be a perfect place for a slide out chip drawer.
 
I found a rubber mat which is easy enough to handle and fits nicely underneath. It catches most of the chips, except the ones flying over my shoulder!
 
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