My Makita 9227 used to get hot too until I took it apart and changed out the stock grease for some Redline Synthetic. The spindle gets dry running against the ring gear. I think high speeds should be taken apart and the grease moved back onto the working surfaces every month or so under normal, everyday, use.
Here's the schematic for the
Flex and the same situation exists, though it might be more complicated to deal with.
http://www.flexnorthamerica.com/Serv.../XC3401VRG.pdf
If you want to know how effective that counter weight really is, turn the machine on without that heavy top handle re-installed. I think the
Flex might be more comfortable for people to get used to because the pad spins the same direction as a rotary.
Heat means friction, friction means wear. Too hot to handle, hot enough to trip the safety, is too hot. IMHO. A service call is in order.
Robert