Michael Koblic wrote:
I am not sure if I am going crazy or the world around me is:

I am going around trying to price out a project: To reduce motor speed using
a pulley system by 16:1 would cost me in pulleys alone $50 using a local
supplier (2 6" and 2 1.5" pulley). I have just come back from an auction
where one could buy several drill pressess for around $40. For this I have
two step pulleys, a motor, a shaft, some bearings etc.

Since when has it become cheaper to buy an assembled piece of second-hand
equipment and cannibalize it for parts rather than buy parts alone? Come to
think of it, it would not even have to be second-hand equipment: Plenty of
cheap small drill presses for $100, i.e. a cost of 2 step-pulleys alone.
BTW a single sleeve 1/2" bearing - $5.00.

One thing to consider in the import DPs is the quality of the pulleys.
Many do not run as true as you might like.
I suggest you chuck each into the lathe and clean it up before using it.