Ok, I am not an electrician, but I asked my old buddy who I've known since 1st Grade at St. Joseph's Grade school. He is an E.E. was an industrial electrician supervising the entire electrical dept. of a large factory. Here is what he told me: "Yes you can wire it with 2 hots--you don't need a neutral. However grounding is important, I would recommend grounding it. The motor should be grounded all the way to the distribution panel, and the wire run in the same conduit (or cable) with the hots. The motor should have a ground wire coming out of it."[/QUOTE
The motor itself has no ground wire, at least none that is identified as such, only black wires. I'll post pics of inside the motor panel soon. BTW, I did a test of plugging in just the two hots and the motor ran, seemed fine, but I would feel better knowing it was at least halfway right. I hear what your electrician friend is saying, and I know he is trying to be helpful, but most of all safe, so some information may be "code" information designed to promote safety, but on this old of equipment I do not know how relevant, or maybe redundant, some of the information is. I know he (or any electrician) might be able to make a better call on site. By the way the shop is all wired in conduit, built in 1965-1966 by a government mechanical engineer.