Very many thanks for your prompt and useful replies, especially Clive whose answer is more comprehensive than I could have hoped for.
I have the wiring diagram from Bracehand Ltd and it does seem quite simple to modify it to three wire if it's four at present.
I just got back from seeing machine for the first time and while I couldn't really see much wear on the slides, possibly because of the lube system, it's certainly been carelessly used with dinks and marks, a bad repaint job and limited tooling, too much of some things and quite a few things missing that I'll need to buy but loads of Hardinge 5C collets. I remember that they used to be quite expensive but are now around £5 each.
One thing; the speed varying motor didn't work and I presumed that it was not wired in as they'd just stuck the wires in temporarily to an outlet, now looking at the diagram I see that it's powered from the main motor. I'm going to assume that it's just something simple anyway, I think.
It's rather scruffy and scuffed but should scrub up ok, the seller and I just need to agree the price which is difficult as they seldom come onto the market. The mk1 version seems more common and go around £2,000 to £2,500 but I really like the VSL better. If anyone has an opinion on that I'd appreciate hearing it.
Thanks again,
Bob Strawson