This seems to have wandered away from Davids Lathe Problem –
Just to re-iterate for Davids sake: The control board is a Pulse Width Modulation controller and DC power supply, providing something like 200VDC. The DC supply powers the motor, and is switched by the controller – varying pulse width controls the motor speed.
As mentioned by other members, the motor can be tested by connecting across a 12V car battery – it should turn fairly slowly – if it does, chances are it is OK.
Also as mentioned, the controller board can be tested with a 100 Watt incandescent filament bulb – connect it in place of the motor, and it should be possible to vary its brilliance using the motor speed potentiometer. If its on Full, and uncontrollable, chances are the output devices (there are various types) on the controller board are short – circuit – this is a common fault, but can be repaired relatively inexpensively with the appropriate skills. The alternative is a replacement board at about 120 Pounds. Arc Euro Trade is a good source (no connection) for spare boards and motors – look at their web-site.
Hope this helps a bit, David