Well, I managed to cobble together the assembly. It really works great for being such a conglomerate. The frame and C clamps are just temporary. I wanted to verify that the pneumatic had enough force to keep the tool holder fimly inserted into the taper without rotation. It works just fine.
Here you can see the pulley, the drawbar bearing holder, and the pneumatic cylinder.
This is what the spindle looks like with the drawbar in the retracted position.
Closeup of the tool holder with a 1/8" carbide endmill installed.
Spindle with the drawbar open and the tool holder removed.
This tool holder works so awesome. I'm not too excited about having to machine one for each tool that I want to use though.
Here is the drawbar in the open position. The drawbar bearing holder seats up aginst the pulley when in the open position.
Scale shot so you can see how long the assembly is. This really isn't much longer than the regular spindle that I have on the IG-88.
Another closeup of the drawbar bearing mechanism.
This is going to make a fine addition to the IG-88 CNC mill!