Cleaned and painted belt guard this morning. Cleaned the pulleys and hardware this evening and installed on the saw.
No skimping here, pulleys are top quality, machined from solid steel. Snug keyed fit to both shafts. The belt guard feels more like an after thought as far as design goes, but it does the job.
There are four speeds, 60 fpm at the low end to 225 fpm at the high end. Changing speeds is super easy just open guard, push motor down against spring compression, change the pulley step, and release the motor. Spring compression is adjustable for proper belt tension.