Re the pulley size, it depends on what size the large pulley is. Ideally you want the counter shaft to run at about 400rpm so the main headstock spindle runs at about 800rpm, 400rpm and 200rpm, in rough round figures.
Plenty of online pulley calculators to tell you what size you want if you pump in your motor speed, pulley sizes and desired rpm etc.
Again in rough figues, for a circa 1475rpm motor, you can run about a 2" small pulley and a 8 or 9" large pulley to get the abovementioned spindle speeds. So your 1.75" would be right in there if you have a 8" main pulley or even a 7".
A 3.5" pulley would be more suited to something like a 12" pulley but you might get away with a 10". That wuold give a spindle top speed of about 1,000rpm, probably about as fast as you want to go with plain bearings, maybe even a little too fast.
It depends too on what ratios exactly the pulleys on the countershaft and headstock spindle give you. For some reason mine (M type) are not quite 1:1 on the medium speed and not quite double and half respectively for low and high ratios. It all has to do with keeping the required belt length the same on each speed.
I ended up buying a $20 digital tachometer that has an infrared beam you aim at a white sticker on the pulley and get the exact speed so I got mine set up just how I wanted it. But that was probably overkill, or just wanting a new toy to play with!
Edited By Hopper on 17/09/2016 09:46:15