Thanks again everyone.
The motor can most likely wait until I've got some more experience with the lathe, it's reassuring to know that there are possible options if I feel a need for a stronger motor though. The lathe itself is a really well built solid machine, I was surprised at how hefty the individual parts were.
One thing that I have noticed is that when I'm turning the handle on the tail stock, the tail stock itself is creeping backwards along the base. I don't know if this a feature to prevent over tightening, or if the bolt on the base just needs tightening up.
Re the chisels, I bought a used set from Ebay for around 1/3rd the price of the same set new. They're made by record power, hopefully they'll be good enough for now? There is some wear to the left shoulders of the 3 spindle gouges though, so they could most likely do with some attention. I don't have the proper gear to re-shape them at the moment, unless it could be done with a disc sander?
I'm hoping to visit the local turning club next month, perhaps someone there might be able to help with the gouges.
Here's a couple of pics of the set that I bought.