I tried this a couple of years ago on a VPI HW-19 MKIII using silk thread. You will need a motor controller to get the right speed (I used a Phoenix Engineering Roadrunner). Ultimately, the set-up was too much of a PITA. Although I liked the sound somewhat better, I went from having too much bass to not having enough. The thread slippage was always a problem for me. I was using a clear belt. VPI's black ones are much better IMHO.
I now have a TW Acustic TT.
I now have a TW Acustic TT.