Well I have read all the replies and whilst most advise is good I would attack this from a different angle.
First of this machine regardless of it's paint job, is, at the least 67 years old and no one has no way of knowing what it's been through.
Without getting into an argument on the register to thread debate what is critical is the register FACE on the spindle.
If that isn't true then nothing that screws on it will be. Now you can sit there with a clock all day long checking but the only true way is to take the smallest lick off the face whilst it's running under power in it's own bearings.
Do I hear sound of heretic, sacrilege etc ? Long , short is it was true 67 years ago but we don't know about today and we are not talking about taking 1/2" off.
Now it's no good getting the spindle true only for the backplate to sit on wonky so the chuck needs taking off the backplate and the backplate screwing on the wrong way round to the end, not tight though.
Then back off one full turn approx, not critical. the distance between the register face and the face of the backplate at this point is the length you need for a spacer, spacer can be anything doesn't have to be a good fit on the spindle thread, in fact it want to be loose, could be a bit of steam pipe.
What does matter is the faces need to be parallel. Becky cannot make this because of the wobble, needs making on a decent lathe or even surface grinding, but once made and fitted between the spindle register and the front of the backplate the register face on the backplate can be machined and a chamfer put in the bore on the edge.
Now and only now can it be turned round and the facing operation previously described be carried out.
It's pure logic when you think about it
Edited By John Stevenson on 03/02/2014 21:38:48