Surely your lathe motor does not go from speed in forwards to full power in reverse? If I switch directions at full speed – the motor simply winds down and then winds back up in the other direction – although I don’t even have time to change directions and restart if I use the stop button. Soft start is a definite plus, for me, at all times.
While I don’t do it, if I left the chuck key in, I doubt it would do any damage as that first half turn is at very low speed/power – I know the motor power trips if I have the spindle locked with the back gear engaged … and inadvertently start the lathe🙂 .
Expensive gremlins if they strike too often. Positive-drive belts are not cheap, compared to V belts.