I spent the last month cleaning up this old lathe. It was all surface goo, and easily dissolved in engine degreaser and some elbow grease.
While I was at it, I took apart most of the moving parts, de-gunked them, and reassembled for a better fit. I did this for the saddle, the front apron, the compound slide, and the tail stock. All parts now work real smooth as they should.
I chucked up a small part in the 3 jaw chuck, and ran my indicator over it.
It shows I'm only 0.002 out from high to low. I consider that 0.001 off the radius, so I think that's pretty good.
I cleaned up all these moving parts and was pleased to find another "Craftsman" emblem underneath all the crud.
Here's an end-view for a different perspective.
Now I just have to figure out my first project!
Also next up - move the lathe to its final location.