Here's the headstock from my Sherline 1000. The first thing to
note is the large brass "ring" to the left of the pulley.
This ring contains the external gear teeth in the planetary set.
Here's a couple of views of the planetary gears. It provides
about a 5 to 1 reduction. (I've never actually counted the teeth,
but that's pretty close.)
Another view. Note the pin on the preload nut.
Here's a view with the pulley reversed and the planetary gear removed.
This provides a direct drive from pulley to spindle, as in a conventional
Sherline headstock.
If you look closely, you can see the pin on the headstock preload nut
engaging a hole in the pulley on the right side.
The parts (sans fasteners) that make up the headstock. I'm not
sure that the bearings used are the same as are used by the current models.
Here's the gear train that came with the machine. These do not
appear to be related to threading, unless a person wants to cut 200 TPI,
as the feed is about .005" per revolution.