Chaps, job done. Now let me explain. And thank you all for your help.
First thing I did was look for an opposing pair of flats on the arbor to allow me to tighten the LH thread nut. There is none. So decided to work with what I had.
Next then, was to reinstate the key. This helped rather a lot. Except the Morse taper then released instead (albeit at a higher torque). This was not helped by the 140T saw not running eccentrically, hence cutting on only a dozen teeth announced by the swishing noise on each rotation (about 80 rpm by the way). For this, I can thank RDG for their 'generously' sized 1" bore – maybe just 5-10thou on the diameter, but enough to render the saw reliably off-centre.
So I swapped in a 32T 3/32" saw of English manufacture (Summit) that I had. Great, except it didn't cut 3/32". And checking with a mic showed it to be about 12 thou 'thin'. Progress remained painfully slow, as I was still unable to advance the cross slide at any reasonable rate without the MT releasing.
Reluctantly, I then pulled out an old dog-driven Myford arbor that is associated with my saw table, bolted in the 140T saw, mounted it between centres, and ripped away despite the ills of that saw. This has no key, but is positively driven, and does not slip. So I then replaced the scrap I was testing all this on with my workpieces, and the job was done in 5 minutes.
Lessons? I'm pretty sure I have an old Myford milling arbor kicking around somewhere. I'm going to dig it out, make up a couple of centralising cups to hold saws of other sizes. And do it old skool in future.
Many thanks.
Cheers, Colin