I wonder if anyone can help with this:
E.W. Stringer 2.5" BGSC lathe.
The cast-iron headstock is in two parts dovetail-clamped to the plain bed.
The spindle appears to be mild-steel, or at least unhardened, a plain 3/4" diameter for most of its length apart from the thrust-flange and nose. It has a fine thread also 3/4" dia. on the outside end for the bearing collars, just inboard of a reduced section that holds the first change-wheel.
The bearing surfaces are simply directly spindle to headstock bores. No separate bearings of any kind. The castings are split one side only, for adjusting against their own elasticity by a cheese-headed screw.
The poor old thing is probably of mid-50s vintage and the spindle and bores have worn enough to make the chuck jump visibly. I would like to refurbish it, but there is precious little metal spare metal I can remove safely from the headstock, and undercutting the spindle for non-split bearings will truncate the back end thread and reduce the pulley section.
Options:
Bore the headstock and turn or grind the bearing areas of the spindle just enough to allow using bushes split to correspond with the headstock…
… Bushes of…?
– Oilites (commercial items in metric and inch sizes – but still need their walls thinning drastically, from the outside of course)
– Cast iron (is a c.i. bush of perhaps only 0.50" wall thickness feasible?
– Aluminium alloy (is that feasible even – it can be machined very thin but I don't know its bearing compatibility with mild-steel)
– Bronze (I understand it is not suitable for non-hardened mild-steel shafts, concentrating the wear on them.)
– Reinforced Nylon (bit easier than PTFE but still not the easiest material to machine, and likely to be more brake than bearing if the shaft warms up. 
– SRBF ('Tufnol'
(Is used for bearings but I'm not sure of suitability here.)
– PTFE-lined steel (commercially available, metric-only, suitable size might not exist)
OR
Bore the headstock to minimum for rounding; make new spindle to suit. This involves the 1MT nose end. Spindle of…?
– Mild-steel?
– EN8 (probably tougher than needed but not necessarily less wear-resistant, though I expect it'll see me out!)
– Stainless-steel. (probably well over-spec for the demand).
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I envisage using the Harrison L5 with boring-table mounted, to line-bore the EW headstock (and come to that, tailstock) between centres, either still on their own bed or on a dovetailed adaptor.
Might be permissible to line-bore slightly below-centre, taking most of the iron from the stronger side; using as limit the faceplate clearance (I think about 1/16" above the bed).
The tailstock is thicker-walled, so a PTFE-lined or modified Oilite bushes could be feasible, with a small reduction in barrel diameter.
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The bed might like some attention too: machining-marks at the ends show it was simply fly-cut or face-milled. Whether that was original or by an overhaul I have no idea, but it is probably just short enough for the Myford VMC's bed and travel.