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Thanks for all of your input. Just ordered new belts to go with JZiggy's pulley system. Hopefully, this set up will last me years without issue.

Hello, new here and new to my vintage drill press. I have a Craftsman 103.23141 which is a floor model. When I set the pulleys up on the slowest setting , the belt will slip on the motor pulley if I apply a little too much force on the drill bit. I took emery cloth to the pulleys to clean the...