I know that you probably don't want to go this route because of the expense but a good Variac should do. If you could find one at a decent price on CL, Ebay or fleamarket/garage sale, they might be much cheaper.
http://www.variac.com/staco_3PN10_20.htm
I have been looking and looking for my "next" lathe which I want to be a VS. I was sorely disappointed last week when I found out that the new Jet Midi VS was also included a 5 step pulley.
Then on another board, a discussion came up about 3rd party router controllers being used on a bench top table saw (to be used as a sanding disk). Variacs came up and the discussion was if the Variac were big enough, - in some circumstances they would be better than the electronic ones. (Light bulb going off) I suddenly remembered that I had four 20 amp variacs - for using on US 120V appliances in 100V Japan, with 2 in storage somewhere and not in use.
Duh - I bought a PSI VS motor and controller back in the spring for my Rikon. But, If I had been thinking, I would have known that I had my VS problems solved beforehand. After testing the Variac on an induction motor (drill press), I realized that I still need the "steps". As Frank mentioned - only a few times (4) in six years on his Grizzly did he change the belts. For me, with the Variac, I found that it does not have good torque at low speeds when the belt is in the higher speed modes - which are not a problem with pens. So, the solution will be to change the belt once each for bowls or spindles and use the Variac for speed changes.
Basically, the pulleys will determine the torq level wanted (pens, spindles, bowls and larger bowls) the Variac will determine the speed within individual work steps. Electronic VS and the PSI motor does this but the torque of the PSI is too weak for bowls of 10 to 12 inches, IMO.
Just some thoughts.