Sorry folks, this one is a bit wordy.
I bit the bullet and disassembled the countershaft assembly to inspect for wear and/or damage. I was surprised to find that it does not match the technical drawing in the Myford ML10 manual.
This is obviously an earlier version of the countershaft unit in which no bronze bushings were used. Instead, the cast iron was bored out, with the steel countershaft running within it, somewhat akin to the way the lathe spindle of the ML10 is carried in the cast iron of the headstock. The difference being that the steel of the countershaft is not hardened. Also, the countershaft sports two grooves at the lathe end to help distribute the oil.

The photos of the journals of the casting and the ends of the countershaft show wear as well as an amount of galling. This unit was evidently run dry at some point, much to its detriment.
The wear is not evenly distributed. The journals in the cast iron measure as large as 0.753” at the motor end, and up to 0.755” at the lathe end. The steel of countershaft seems to have taken the bulk of the wear, measuring 0.7233” at the motor end and 0.7235” at the lathe end.

All of this translates into a fair bit of runout – as much as 0.0297” = slightly more than 0.75mm (ouch!). No wonder this joint has been weeping oil.
My assumption is that the steel of the countershaft started life as a true 0.75” and that the journals were bored very slightly larger. Perhaps someone would know what an acceptable beginning tolerance would have been.
Anyway, I’ve still got to fix this somehow.
What would be my best approach?
If I simply repair the shaft to bring it back to a true 0.75” – either by bronze brazing or else a complete re-machine – I will have cut the total runout to something like 0.005” which is already way better than what I’ve got. But this begs the question. Will the galling in the cast iron journals just start nibbling away at my new shaft? I’m thinking that the galling will have been worn down a bit over time, but this is only surmise (or wishful thinking).
I have no machine at my disposal to bore out or hone the cast iron journals… excepting if I tried to sort of use the ML10 as a hand-turned device to do the work with the cast iron countershaft unit somehow clamped to the carriage. Scary!
Another thought was maybe to run a hand reamer through the countershaft journals to clean them up. That would be either an adjustable reamer, or else a carefully-chosen, oversize reamer. Naturally, I would have to slightly oversize the bearing surfaces of my steel countershaft to suit.
What would be my chances of success with this approach?
Until I get this fixed I’m going to slap it back together so that I at least have a working lathe.
Because of the heavy amount of play in the shaft I thought to pack the journals with graphited grease instead of using oil at the moment. Is this a bad idea?
Edited By Ignatz on 06/08/2017 22:30:24