Two different things that haven't been mentioned.
1. Have you tried a different pot? Some times the older pots can lose either the carbon strip or the wiper contact. That would allow the full arc of the pot movement from working correctly. Pots are fairly inexpensive compared to the price of a new lathe or VFD.
2. You haven't said if the lathe is direct drive or if it has a belt from motor to spindle. Some times a belt gets so old it starts sheding it's contact area. This would allow it to still drive at low speed, but as the motor turns faster it starts to slip more so the spindle doesn't respond as expected.
When mechanical things, like a lathe, have electronics it's easier to blame the electronics than to look for a mechanical problem.
1. Have you tried a different pot? Some times the older pots can lose either the carbon strip or the wiper contact. That would allow the full arc of the pot movement from working correctly. Pots are fairly inexpensive compared to the price of a new lathe or VFD.
2. You haven't said if the lathe is direct drive or if it has a belt from motor to spindle. Some times a belt gets so old it starts sheding it's contact area. This would allow it to still drive at low speed, but as the motor turns faster it starts to slip more so the spindle doesn't respond as expected.
When mechanical things, like a lathe, have electronics it's easier to blame the electronics than to look for a mechanical problem.