Yeah, it feels pretty shot. Chances of taking it apart and not finding some serious pitting are pretty slim. That said - I don't have a bench vise. It's one of the many things in my moving-out-of-Brooklyn-to-a-house-with-a-detached-garage-or-barn fantasy.

I've used the Sheldon DIY tool on fixed cups before, so I guess I'll just spray it all down with penetrator and then give it a whirl. Maybe I'll get a nice spindle out of it all!

Thanks guys.