I liked the design of the Beall system and had used one on a friends lathe with good results. So I sent an email to Beall and received a reply from JR Beall regarding using this system on a SS. If this has been covered already, my apologies. Beall has addressed the needs of the ShopSmith community.
The shaft has been modified to work on a ShopSmith.

Note the "new" packaging touting the SS compatibility.

The photos of the ends are a little blurry, but the threaded end now has a 1/2inch turned section that can be mounted in the SS 1/2inch drill chuck, of the 1/2 inch router bit chuck.

Both ends have indents. I used a 60degree live center in the tail stock, placed in to the indent on the shaft's #2MT end.

What I liked best about this modification is that no modifications to the Beall shaft were required. Should I ever want to use this on another power source, it's ready to go.
I hope to put these wheels to good use buffing future pen projects.