Ok made some progress after work. Iv put some photo's below which I hope benefit others and not just myself. I find it easier to learn from posts that have photo�s.
I replaced the outer spindle bearing which didn�t turn out to be that difficult. Once you seperate the cutting shaft from the frame the cutter shaft comes out just like a powertorque crank. The inner spindle bearing was nice and quiet so I left it alone. When I rotate the new blade it is nice and quiet with the new outer bearing. After a couple of swear words I now have the shaft installed back on the frame.
Late this week I will tackle the engine. I am thinking the following method if no body has any other suggestions.
1) remove block and clean piston and rings. Ill give it a hone whilst its out. The rings look good through the bore so Ill leave them as is unless I find a surprise.
2) Ill wack on new bottom and head gaskets after the hone.
3) I have noticed the bottom seal is covered by a washer. There was no oil residue so I leave it as is.
4) I have new belt from Bruce's shop so thats going on once the motor is freshened up.
4) Once I get the flywheel nut off the starter cup ill check and clean the points and make sure they are set correctly.
Questions:
1) When you remove the stator plate off these old models how do you get to the top seal? Do you have the remove the keyway cam?
2) Does anyone have spare belt guard they are prepared to part with as I didn�t know these were so imperative to the machine. I would be happy to swing a couple of dollars to cover postage and your efforts.
Deejay - You are correct I need to straighten the front axle as it looks like it�s been repaired at some point.
Its well on the way to recovery.
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