Hey,
I found this great set of instructions to build a RPM display for any spinning machine that uses an Arduino Nano and some leds as the sensor. It was really easy to follow and become my first Arduino project.
I just needed a nice way to mount it to the Maslow. I designed a mount for the display and the nano that mounts to the side of Neds z axis mount that works so well. Then i also designed a mounting system for the sensor leds that can be adjusted to line up with the reflector on the spindle nut. Its all very easy!
I have uploaded the design to thingiverse, see here, the link to the instructions is also on that page.
A video of it running can be found here: