Update:
The T-Link belt that drives the spindle is probably OK, but I have ordered a Chinesium one anyway (£48).
There is/was an issue where the bull-wheel and pulley were not properly connected and only "stiction" was imparting drive to the spindle.
I worked the mechanism backwards & forwards a few times and it fully engaged and all "feed functions then worked without stalling the driveline.
I checked the speed of the lathe chuck against the gearbox label RPM’s and they were pretty good (527 when it should have been 540 RPM).

I put a piece of 40mm round bar into the chuck and checked the run-out of the 3-jaw chuck (<5 thou’).
The very fine feed (0.0015”) per revolution produced a lovely smooth surface on a traverse (turning the bar down in diameter) and similarly on a facing cut with a cross-feed.
I then tried something a little more aggressive and that’s when the next problem appeared. The NEW belt from Motor to first drive pulley began to slip and the lathe stalled.
I am not sure I can tighten the belt any further as I seem to be at the end of the slots of the motor mount or there is no force I can apply that moves it any further.
I pulled the loose new belt off using a pry-bar and a rubber wedge and slipped the old belt on in its place (same issue).
I’m going to hoick it all out again and see if I can improve the belt fit by moving the motor further over (if there is in fact room in the mounting slots in the frame).
Then force the new belt on (wedge & pry-bar again). That isn't good for the belt, but needs must!
