Fussy is right.
I find that adjusting by the book, i.e no play in the spindle, that it often feels
a little tight, i.e. some resistance. But when the cranks and pedals are installed, the
added momentum/centrifugal action corrects this.
It's difficult to explain on paper...
Once adjusted, you should be good for 10-20 years.
How long do those sealed cartridges last?

A modern day classic...
Raleigh Tourist.

The kick stand looks good....