I will second the motion that by replacing the motor with a 24 volt DC motor, sure makes the U3 a far more versatile lathe, than with the 240 volt AC motor that's fitted as per original.
It now can cut mild steel with a full 2mm of the tool tip buried into the material, 4140 you will have to have that 2mm reduced to just 1mm tooltip buried in the material, but it sure can cut it now.
I'll be keeping a close watch on all the changes I have done to it, to see if this extra power will start to wear out something else, only time will tell me that though
Just take it easy as your starting to cut the material, then keep applying pressure as the swarf magically appears, with-out the lathe motor stalling - ah bliss, eh.
Unheard of performance now, compared to when you're just using the 240 volt AC motor.

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