RK can double check this, but this appears to be a good candidate for occassional clubmaking machine work:
http://www.harborfreight.com/cpi/ctaf/Displayitem.taf?itemnumber=44836
12 speeds (250, 340, 510, ... 3600 rpm) 1/2 hp; 3.5 amp 2 3/3" spindle stroke; 10" swing
US$99.99 plus shipping and handling $8.99
I found some other bench tops that were as low as 140 rpm, but were roughly $180 + $55 shipping.
/Ed
