This discussion has sort of slipped off the rails. It seems to me there are two schools of thought on this forum: Those who view a lathe as a tool and want to use the lathe as a means of making things, and those who view the lathe as some sort of entry for a concourse event where it will be judged on paint color, smoothness of finish, original equipment and accessories, frosting on the ways, etc.
In this case I think the OP just wanted to get his lathe up and running without worrying too much about loss of points for an "incorrect" pulley. (As a side note, his lathe probably didn't originally come with a VFD so there go a pile of points for original equipment.)
So, he has a pulley and the lathe will run and make stuff. NOW he can set about machining the absolute correct pulley from billet stock to match the original perfectly. Points regained!!
As a second side note, among the 3 South Bend lathes I have, I have a Heavy 10 with the original 2-step motor pulley on it and except for the time I wanted to see how it would work with the higher of the 2 speeds, I've never used the higher option because I use a VFD. Since the pulley is inside the cabinet and I don't look in there very often, it would appear I'm wasting a valuable resource!