Hi Chris and welcome to the forum. I assume (and I may be wrong of course) from your questions that you are more toward the novice end of the skill-levels scale. So you might be best to not go pulling the spindle and bearings out of your lathe at this stage. It's not really a beginner exercise.
Yes, being opposed taper rollers, they should have a bit of preload. Not sure on the specific Myford procedure but opposed taper rollers in general need to be adjusted so there is no discernible shake or movement and just perceptible drag when the spindle is spun by hand. (Remove any oil seals so false drag is not created.)
This is usually set with a threaded collar that tightens up against one of the bearings. Should be set after the lathe has been run for half an hour to get it up to operating temp.
If you are worried about corrosion or wear in the bearings, you should be able to feel this by rotating the spindle by hand. Any roughness felt indicates a bearing problem.
But your vibration as has been said is more likely to be created by something else in the drivetrain. Taper roller bearings are usually very long lived and problem free, if adjusted right and kept lubricated.
One big source of vibration on old machines is old drive belts. They go hard and if left unused for years develop set-in curves on the part that was around the pulley all that time. New V belt/s may be all you need. Buy good quality brand name from a reputable supplier, not the cheapies off t'interweb. I prefer the ones called "cogged V belt" that have a series of closely spaced notches around the inside, which lets the belt bend more easily around the small diameter pulleys found on most hobby lathes. Seems to smooth them right down.
Let us know how you go. It's a very nice machine you have there and should be a joy to use when set up right.
Edited By Hopper on 03/05/2019 06:57:12