"The only thing you need to keep in mind is that DC motors are constant torque, while AC motors are constant horsepower. This is really only a problem at very low speeds, and for cuts that need to run at a very precise speed. DC motors can bog down noticably , or even speed up, under high or sudden loads. Tachometer feed back DC drives will help, but those are for high $ applications."
The Monarch 10EE has used dc drive from the late 1930s to the late 1980s.
Just about every variable speed motor is constant torque below the motor's "base speed" and is constant horsepower above this "base speed".
Dc motors, included.
In the case of the 10EE, the drive system is completely open loop, although there is I-R compensation.
Machines made after 1949 have an electronic drive; machines made before about 1952 could have a Ward-Leonard (motor-generator) drive. There was a several year overlap in the availability of the two drive types, but both used the same, or a similar dc spindle motor.
There is precisely variable speed from nearly zero to 4,000 rpm, and no surging or other abnormalities.
A dc motor which speeds up under load is undoubtedly a compound-wound motor which has been incorrectly connected for "differential compouding", and this is a design or installation error.
Or, and the 10EE does all this without any tachometer feedback, although there were some third-party dc drives which had tachometer feedback, and which required this feedback as these drives had no other way to detect loss of field, which will cause a dc motor to runaway and destroy itself.
Monarch used dc drives on its super-precision toolroom lathes, and used other means on its engine lathes.