Thanks 'not done it yet'.
I replaced the power feed motor switch, which cured the problem of it cutting out due to 'overload'. The original switch was well past retirement age!
The labyrinth seal is a series of grooves rather than a scroll, so I don't think there is any pumping action. I do reverse the drive direction from time to time – I seem to have acquired a few LH reamers over the years, and sometimes it's more convenient for access for a slitting saw. I didn't change the quill seal, so was somewhat surprised and delighted that no oil seemed to be sprayed over my clothes. It's early days, and some oil might be working its way out, so I'll keep an eye on it. If the problems come back, I might introduce breathers in the enclosed spaces just to see what happens.
Fortunately, I've no need for riser blocks because the stuff I work with is relatively small (so far!). I do have a portable crane I could have used, but it's in another garage 100 yards away, and I would have to clear a lot of stuff out of the workshop to get it in position. I don't think I'll be manually heaving the head about again – anno domini is taking its toll on the muscles and joints, I fear!
I have never used the Centec in horizontal mode, even though it came with a formidable set of cutters. I can't think of a job I've done which would warrant the change over. Vertical milling might be slower at times, but I'm usually in no hurry (or not adventurous!).
With the motor in the metal pedestal, I suspect a lot of the noise is caused by resonance. The belt tensioner is a bit of a bodge, and uses the drip tray as the reaction point, metal to metal. For years, I've been meaning to try a rubber mounting on the belt tensioner, and some sound dampening material on the panels to see if they reduce the noise but, as usual, I 've not done it yet. 