Hey Brad,
I built one of those machines about a year ago and posted the process on the forum.
Here is the link to the thread in the archives. Mario (who Tim used for inspiration) and Tim both cautioned against the motor I used and their cautions should be carefully considered. It creates a lot of dust, I have a cover for my motor and it is used outside. But I have a 1/2 hp 1150 rpm washing machine motor and it works great. I am not wanting for anymore power at all. Along with rim sanding I make and sell dishes with this machine and have absolutely no problems with it. I have probably made 50 dishes on this machine now as well as sanding guitar rims. The most significant 'upgrade' on mine is the belt tensioning system that I borrowed inspiriation from the system on one of my drill presses. Anyway, any questions I am sure that Tim, Mario, myself or any of the others that have built these machines will certainly help you out.
Good Luck
Shane