Thanks Stuart, yeah, I think I have the wire tensioning under control (when I get that far) I've built a number of slow lathes for doing the bindings on fishing rods, a not dissimilar operation, only a lot less coils, and the tension on the binding thread was a bit critical with those as well.
I am (very) loosely basing this machine on Bob Shore's 'Sidewinder' only with a full, Myford style, change wheel set up - very much a matter of cut and try but it all should work out OK.