I have a power tool collection-and two Shopsmiths.Don't use them much now-but used to.Have a model 10ER and the 500.Both have variable speed pulleys for the speeds.The new 700 model has a variable speed motor.They are very good and versatile tools.Once you get used to changeover from one tool to another-it works out well.You have to plan your work around this.The basic Shopsmith can be a table saw,lathe,disc sander,vertical drill press,and a horizontal drill press.This is a very unique tool and it is good for work that would be difficult to handle on a vertical drill.You can get a belt sander,bandsaw,jointer as optional tools that are powered from a power takeoff shaft and coupler on the back of the headstock.The optional tool mounts on the coupler side of the Shopsmith bed tubes.I have the bandsaw and belt sander-work very well.I also have a standalone Craftsman bandsaw.The motor Hp on the early Shopsmiths was 1/2 hp.Later ones were 3/4 hp and 1 hp.The new 700 model is 1.75Hp 120V and 2 hp if run from 240V.The motors on earlier model Shopsmiths were from GE.or whatever brand the owner supplied.The 10 models were also sold without motor.You supplied your own-1/3-1/2 hp was recommended by the Shopsmith folks.They also made a "sawsmith" a radial arm saw version of a Shopsmith.These are more rare.Never used one.And they made standalone machines as well.The 700 is the only model currently made-and demoed at Lowes.
There is another similar machine like a Shopsmith still available-SuperShop.It is heavier and larger than a Shopsmith and has a variable speed DC PM motor.It has a wider speed range than a Shopsmith and heavier in weight.You can order those from the SuperShop-Smithy website.They also make metalworking tools such as lathes adn mills.It is said their machines are built in China to high quality standards-the Shopsmith is still built in Ohio as the old days.The Supoer Shop was a competitor to Shopsmith even from the 50's-the design of the Shopsmith dates back to the late 40's just after the war.Designed by a German invenotr Hans Goldsmidt or something like that.Another competitor to Shopsmith in the 50's-60's was the DeWalt Powershop-based on a radial arm saw.Have used on of those as a Radial saw.A neighbor to us at one time had one and he used it as a sander,drill,and jointer.You could use the DeWalt Powershop as a single speed horizontal drill or router-shaper.A lathe attachment was available for the DeWalt-you put a pulley on the motor shaft in place of the blade or other tool,and clamped the lathe to the DeWalts table.
