The ad you refered to says "starkstrom" which should be German slang for three phase.
I am prett convinced those saws were built to use a 350-400 mm blade. My Stenberg combination machine uses a 400 mm blade and it has a 3,7 kW (5hp) motor.
I also think you have a 380 volt three phase motor wound for use in star configuration. The plate on those usually says 220/ 380 volt. That means they are intended to run on 380 volt three phase but due to the pattern of winding they theoretically would work with 220 volt three phase if there was such a power source around.
Usually the power output is given only for 380 volt as that is the power it is supposed to use.
By adding a capicitor it should be possible to run such a motor on single phase but you loose a lot of power and get a lot of superficial heat.
If that isn't the sole cause of your problems I suspect some fault with the insulation inside the motor. The insulation could be tested using a Megger without dismantling the motor.
If the Megger says there is i current leak the only possible fix is to take the motor apart and rewind it which is a job most hobbyists cannot do at home and which will cost from 400 euros and upwards when you pay someone for doing it.
If the Megger says that the windings are okay you should discard the capacitor and get a proper phase converter or some other source of three phase power. In this case you should dismantle the motor carefully and shift them and put in good quality rubber sealed deep groove ball bearings class C3. *** is my favourite brand. SKF are also good. When the motor has been run hot that way the bearings will start to overheat as the grease has dried out.