I rebuilt my 1969 16" x 6' lathe some years ago with help from Ted!? Thank you Ted!? I bought it from work around 1990 - they had bought it new in 1969.? But it was not in great shape.? Ted provided many new parts and even quite a bit of labor.? I had set it up in the old shop and it cut pretty good.
Built a new shop a little over 2 years ago and finally got around to taking a test cut.? Started about 0.001" per inch.? The worst part is around the chuck area (no surprise) but worst is around 0.002" per inch.? But over 17 inches, maximum deviation is 0.013" .? From 0 to 17" its 0.0011".? I don't know what is typical, but this will work just fine for most of my needs.
What do you typically see from these lathes when? in nice shape?

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1969 16" x 6' South Bend Lathe
Garage full of old Mopars........