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I don't think the HP makes any difference. I have a 2HP 1" spindle shaper and it will run 1-1/4" bore cutters just fine.
I think it really depends on the size of the cutter. 1-1/4" cutters offer a much better cutting angle because of their size, but they can be pretty massive for a Delta 3/4" spindle. More than anything, we aren't talking about a machine with massive bearings and a solid spindle. If you had a 3/4" spindle on a massive old shaper, it would be a different story. The Deltas don't offer as much support and there was a reason they sold a solid 1" cartridge and spindle for they machine.
I could see running the cope cut on the Delta, but I wouldn't put a panel raiser on it with a 1-1/4" bore.
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Part of it depends on your knife diameter. I would caution against the use of a 6" diameter knife on most one or two speed 3 HP shapers. The knife is spinning too fast and the quality of the cut as well as the durability of the knife can be compromised
OTOH I use a couple of panel raising cutters that are 1 1/4" bore and 5" in diameter without an issue ever with T Bushings top and bottom. Also before I had a 1" diameter spindle for my present shaper ran cope and stick knives that are 4" in diameter stacked up to 4 knives on the spindle and a rub collar bearing underneath for pattern work that amounts to nearly 3" full stack . I also add as many bushings as required to fill the knives ( if stacked sets) on the spindle and have been doing so for the better part of 20 yrs on a 3 hp shaper.
The only additional info I can share is to make sure the spindle is truly perpendicular to the table and use the slowest speed (~7500rpm) and keep them as close tot the bottom of the spindle as you can
Joe
Let us not seek the Republican Answer , or the Democratic answer. Let us not seek to fix the blame for the past. Let us accept our own responsibility for the future John F. Kennedy
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Would it be possible to find a 1 1/4 inch spindle for it?....or to have one made by some local machinist?
3 hp is the same motor size as the spindle moulder on my European style combination machine. It has a 30 mm spindle which is pretty close to 1 1/4 inch. I use any normal cutterheads on it but it is very solidly built compared to your Delta and it has three speeds. 3hp is certainly on the small side but it will be enough for most jobs if you don't feed to fast.
30 mm and 1 1/4 " are pretty much industrial standards worldwide nowadays.
Part timer living on the western coast of Finland. Not a native speaker of English
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It has to do with the OD size of the cutter and the speed. the shaft could easily bend and it would not be pretty. At 10 grand it doesn't take much if it is unbalanced. It is like 1/2 and 1/4 shanks on a router bit. I know Grizzly makes a 1 " spindle for their 3 hp shaper. Check and see if Delta makes one. I do not know for sure but I would be surprised if they didn't. I would be be a little more corfortable with only a 1/4 sleeve verses 1/2. but there is a reason they made it a 1 1/4 bore in the first place. Personally I wouldn't even do a 1 inch diameter spindle, I would never be able to get comfortable with it. I have seen two much of that type of things happening in industry .
Tom