I would opt for the router motor mounted to the spindle head versus trying to jack up your spindle speed. Odds are your spindle is only rated for slightly more rpm's than it is designed to run under so trying to overload that speed could fry them quick.
The router will give you a lot more rpm which is much better for wood cutting and if you look around you can find one that stripped down does not stick out to far loosing you travel distance. You will want it mounted as close to flush to the mill head as possible..
Good luck..
Bo


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