I have been looking for something similar for a while now. Check out tormach spindles at http://www.tormach.com/Product_PCNC_maint.html They have a bt30 taper or the r8 which you dont want. You could also look at Sherline spindles. http://www.sherlineipd.com/spindles.htm I am considering the sherline myself as I want to cut steel as it sounds like that is the same for you since you want such low speeds. Happy hunting.