Going off the electrical track, you say that the lathe is bolted down solidly. This may be a mistake, as unless the floor is ABSOLUTELY level, the bed may now be twisted. Now to climb onto one of my hobby horses!
Better to insert rubber pads under the feet and not tighten too much (The idea is only to stop the lathe walking around the shop!)
Once that is done, ideally you need to check that the lathe bed is free of twist.. A lathe with twist in the bed is unlikely to turn parallel, only a taper.
Various ways of doing this:
Use a sensitive level, either across the bed, at Headstock and Tailstock end, or on the Crossslide, and check at each end of its travel along the bed.
OR Follow the method suggested by Myford (Series 7 Manual, pp41 and 42) or The Amateurs Workshop by Ian Bradley (pp 27 and 28). This involves turning a short section at each end of a sturdy bar (with a relieved section between to look like a cotton reel) without changing the Cross Slide setting. Any difference in diameter indicates that the bed is twisted. The instructions then tell you where to put shims to correct the twist.
You keep on checking and shimming until the last turned diameters are the same.
But this will be after you have sorted out the motor and its switchgear.
Then the world will be your oyster
Howard