Thanks for your reply 1yesca. I was hoping someone would have one!
It was damaged due to my own stupidity. I have been doing a complete tear down and cleaning of this machine. It had a few issues that needed attention and it was pretty cruddy and abused all around. The spindle and bearings were in surprisingly good shape though, with very little wear and no scoring at all.
I had a bucket with some simple green and water mix that I was using to clean up some other parts. I put the spindle in the bucket, planning to leave it in there only a few minutes while I finished with some other stuff, then I was going to wipe it down, oil it up and store it away until I was ready to reassemble it. But, I forgot it in the bucket for a couple of weeks! It was badly corroded on some areas of the journals. I tried polishing it out, even though I knew just from looking at it that it was way beyond that.
I could have it ground, but I think it would be too far under size to use at that point.
I have a parts machine which has a great condition 1 7/8" spindle, but my main point for getting this machine running was for use with 5C collets, so I really don't want to give that up.
If you have a good condition 2 1/4" spindle, I'd be interested in it. Please send me a PM and we can discuss details. Thanks again.