Radial Arm Saw Motor Voltage Change...Possible?

I currently have a very nice old 14" RAS that I recently purchased. I made a mistake during the buying process, and managed to think the motor was dual voltage when is was actually 440v only. I need a motor that has 220V!!! Here is the list of possible solutions I have some up with so far.

1.) Rewind the motor. This sounds too expensive for my situation, and I haven't gotten any quotes yet.

2.) Buy a step up transformer, 220v to 440v. The cheapest 6 KVA I know of is about $540. Still pretty pricey.

3.) Try to re-lead the motor. I know nothing about motors, but somewhere I saw a thread suggesting this. Sounds good on paper, but the last thing I want to do is damage the windings.

4.) Sell it.

Can anyone stear me in the right direction? What are the potential costs of these options? Any and all advice is gladly welcomed. Thanks.

Hutch

P.S. The motor is a 5 HP motor, 6.7 amps@440v, 3450 rpm, a good 50 years old, and not TEFC.

Double check the motor connection box, I've seen a number of motors that were labled for single voltage but actually had all 9 leads brought out allowing for re-connection for lower voltage. If the extra leads aren't there "spliting the windings" is best left to a motor shop,as its not as easy as it seems.
Best option... hold out for a better deal on a transformer- they're out there, I got one on ebay for $120 a while back.
Meanwhile try this: hook it up to 220. The motor will still come up to speed, but it will have less power. With a 5 hp motor, there may still be plenty of power to do most of what you need. With the mere seconds the saw actually cuts there is no chance of over heating or otherwise damaging the motor.
Good luck.
- Tom

Options

There are only 3 leads, that's why I am considering the re-leading option. I got a shop to quote me around $200 for releading, and $500 for rewinding.

Although, it's interesting that it still may operate ok at only 220v. Thanks.

Hutch