This fellow has the best rundown. Make sure all the set screws are loose.. and go at the outboard side seems to the be the general advise. I'm guessing once the retainer and pulley set screws are loose the retainer removed bearings would probably just crumble as they come out even if they're pretty toasted (except the outboard bearing maybe).
the old beaver lathe i just acquired will be getting the full treatment since i already have a lathe if there is any interest, i will run this thread with regular updates on the rebuild, concentrating on various methods it is a lathe but most of the stuff applies to any old power tool, so i...
forum.canadianwoodworking.com
"the 3400 lathe is pretty simple to take apart, a set screw in the retaining collar and one in the pulley(in the smallest section of the 4 speed pulley), allen keys will do the job easily, just pry or blowout any debris so that the allen key seats properly. removal of the retainer maybe be tough if the threads are buggered but it WILL come off
the spindle is then removed by a few solid hits from the outboard side, usually the inner bearing will come with it. the pulley itself is usually the toughest to break loose, its aluminum and has a key, but dont be afraid to hit the spindle with the outer retainer still threaded flush to the very end of the spindle to protect the threads. note that its a left hand thread
the outboard bearing will stay in the housing and is removed with a punch going "outboard"
the inboard bearing is removed from the spindle with a few taps, it should come off easily"
"getting the MT2 apart in this old lathe was a real big problem, i tried heat, solvents etc etc, a vise and a hammer, nothing. it had been stuck in there for over 40 years
so it was brute force!!
i had an old steel pulley that the shoulder of the spindle would sit on but the adaptor would fit through, a suitable deep socket would work too, then an old cold chisel with a blunt end to slide into the shaft and sit on the end of the adaptor and a 15 lb sledge hammer, all sitting on the concrete floor. one good wack, and its done
the moral of the story? take the time to do a good setup, followed by a good wack!! "