This is a 1981 Shopsmith that I purchased used in 2003. The machine had seen light use, but suffered from some rust and general aging. I disassembled it completely, replaced all bearings including the motor bearings, repainted it, and upgraded to a model 510. I've since upgraded again to a model 520 fence system.
The restoration process was a lot of work, but turned out nicely. Though, next time I'll just buy a new machine and use my time for woodworking projects!
If you're thinking about upgrading a Shopsmith, I would definitely recommend skipping the model 510 and going directly to a 520. The 520 fence is much nicer and floating table alignment is much more accurate.
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