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I'd do the maintenance routine just to be sure it's ready to roll. Details are in the owners manual. Basically, air compressor and blow out the power head. Light oil on the sheaves in the oil holes, any light oil like 3-in-1 will work but I like zoomspout because you can get down to the lower sheaves without having to take the headstock cover off. Graphite lube on all the controls and threaded components, paste wax on the way tubes, table, quill and any other unpainted parts.

It's not critical immediately, but you probably want to wire cup those bottom tubes at some point to get all the rust off and then paste wax to prevent future rusting.

I'd pick up a Penn State shopsmith adapter for the lathe, and then you can use any standard 1x8tpi lathe chuck. The barracuda 2 is a great kit that covers everything you need for small to mid-size turnings and is much more affordable than a nova or oneway chuck. Pick up a tailstock live center or two if you don't have one. While you are at penn state, pick up the shopsmith compatible pen mandrel if you want to try pen turning.

Shopsmith sells the jacob's chuck you need for the drill press. Used ones are a little cheaper on ebay. You might also want a tailstock drill chuck (or a cheaper one from harbor freight) for the lathe, especially if you fancy trying pen turning.

Make sure you have a power coupler or two, you need them for the bandsaw/jointer.

If you need any parts (bearings, belts, switches, etc) for your shopsmith, try Jacob's Repair Shop before you order from the mothership, he sources parts that are cheaper and higher quality than the stock ones.

That part is actually easy. I've done it:

https://imgur.com/gallery/I8ZHsxJ

Confirm the thread pitch of your set screws, I believe it's 3/8-16. And then go shopping at Amazon, McMaster, etc. Something like this: https://www.amazon.com/Monroe-MA-68252-Mounting-Adsjustable-Stainless/dp/B00FWUHQHS/ref=sr_1_37

https://www.amazon.com/Boeshield-Squeeze-Tube-Oz-T90104/dp/B002IZMGAM/ref=sr_1_8?gclid=Cj0KCQjwh6XmBRDRARIsAKNInDH69sVH7u5w15GJut_xZCsyX37iFTHZ3vgeudfvlYhP9d0Bo7OBhW4aArQgEALw_wcB&hvadid=241927863337&hvdev=c&hvlocphy=9016807&hvnetw=g&hvpos=1t1&hvqmt=e&hvrand=14506002300211043599&hvtargid=kwd-2351153572&hydadcr=24662_10400876&keywords=boeshield+t-9&qid=1556755406&s=gateway&sr=8-8


This stuff will work nicely. Any Boeshield T9

I ended up using basically a big pair of lock jaws and giving it a TUG to get the adapter off. It wasn't that jammed.
One of these: ( PSI Woodworking L5818 Headstock Spindle Adapter (Shopsmith 5/8-Inch to 1-Inch 8tpi chuck) )
https://www.amazon.com/gp/product/B000KIEC88

Hey quick question is this the same as the eBay one?

PSI Woodworking L5818 Headstock Spindle Adapter (Shopsmith 5/8-Inch to 1-Inch 8tpi chuck) https://www.amazon.com/dp/B000KIEC88/ref=cm_sw_r_other_apa_DUzdAbPCXFYZ3

Looking at the manual, the inlets are 2 1/2", so any blast gate designed for 2 1/2" hose should work.

Woodcraft - 4.95 - ABS

Amazon - 12.95 - Alu

Floor/paste wax. It's a fairly hard wax that gives you a protective layer. Use it on anything that slides including:

• way tubes
  
• table tops including the main table, floating tables, bandsaw/sander/jointer table
  
• tubes on the tables and accessories
  
• the holes said tubes are inserted into
  
• rip fence
  
  https://www.amazon.com/Johnson-Fine-Wood-Paste-00203/dp/B0000DIWIM/ref=sr_1_13?ie=UTF8&qid=1505853535&sr=8-13&keywords=Floor+Wax
  
  ****
  
  if you need to clean it, use low odor mineral spirits. This will not only remove normal grim, but also old wax and any tar/pitch/sap from wood that you've cut.