Radial arm saw converted to router table.

For $40. and shipping the guy sent it along. Unfortunately it was the bi-voltage model for the double-yoked saw, while my electronic model had the single yoke.

A pal with a machine shop decided to modify things, so he pressed the motor out of the bearings and into the ones which fit my saw. 1/4" too long? No problem. Spread things out to fit. Two capacitors instead of one? Cut a hole and hang it over the side, glued on with a piece of walnut and epoxy.

Sound crazy? I've used that motor since 1996 for heavy ripping jobs like making trailer-loads of wooden stakes for tree planting. It wasn't much of a saw before, but with the new motor it's a workhorse.

Here's the link ->Link

My>Link saw is a 12" model 113.29500 - about 12 to 15 years old. Due to the recall, they'll send me a box for the motor and carrage assembly and I'll sell it back to them for $100. Not bad for something that can't be fixed, anyway! Hope your's was part of the recall, too!
You'll still have the table and arm assembly to tinker with. too.
Here's some more recall info someone may find useful -

http://benchnotes.com/Tool%20Recalls/tool_recalls.htm#Craftsman%20Radial%20Arm%20Saw

The big problem with using the Sears saw as a router, shaper or planer is that the arm really isn't that strong, so any heavy application will seem very scary. It's hard to do a good job with the cutter heads, but if there isn't another way to do it you just hang in there and count your fingers regularly.

I made a lot of blind horizontal 3/4" dadoes for thermal panes with the saw before a good shaper came along.

My very old radial arm saw, Sears or MonkeyWards I forget, doesn't have the rigidity of my overarm router. Quite sure I wouldn't be happy with what I got.

Straight line panel routing is very simple with a shooting board, or even a clamped straightedge. If the panel's large, much easier than trying to feed it through your radial saw table.