What motor?

So, finally got 15 minutes to mess with the switch unit and start cap on my Mars Thor - and it's knackered (Lathe hasn't run in 20 years at a guess). The motor that's there is a 19mm shaft 1hp single phase 1400rpm unit. Going straight for another 1hp/1400rpm unit seems the logical way to go, but part of me thinks "More power would probably be better"...

Of course, I'm keeping an eye out for cheap treadmills, but the only one I've spotted was a 600w unit - strikes me a a bit lacking in grunt...