Worth fixing ?

A motor off of a router would be small enough and fast enough. Routers spin over 20k. Some trim routers get up to 30K. Getting a small fast motor is not a problem. Make whatever you need to mount it. Same goes for the chuck. Bet it has a standard taper. I doubt that they make the chucks. Too specialized for a small manufacturer.

Is it worth the time and effort? Only if you think that it would be a fun project to restore.
A motor off of a router would be small enough and fast enough. Routers spin over 20k. Some trim routers get up to 30K. Getting a small fast motor is not a problem. Make whatever you need to mount it. Same goes for the chuck. Bet it has a standard taper. I doubt that they make the chucks. Too specialized for a small manufacturer.

I would also suggest looking at CNC router spindles with VFD's on ebay, Amazon etc. They MIGHT be a little more compact and a little easier to work with.



 
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