Well, here it is after some extensive cleaning, stripping and re-painting. The motor runs like a watch and after lubing it and attaching a new cord, I'm sure it'll live longer than I will.
I replaced the two spindle bearings since one was squalling like a mashed cat and I'm sure the other couldn't be too far behind. The deep bearing on the head pulley was smooth and quiet and removing it looked like it could come out worse than leaving it, so I cleaned it, lubed it and left it.
The quill clamp screw had been replaced with a common AN bolt and nut so I made one to look similar to the other original clamp bolts, which are knurled and bent. The only 5/8" material I had was a super-long, rusty 5/8" bolt from the scrap pile, so I cut the end off that, turned it, threaded it, knurled it and bent it. Afterward, I zinc-plated all of the clamp screws, the spring housing, the housing cover and the quill stop. Then I treated them with sodium disulfate/yellow chromate.
The brass quill stop nuts were worn pretty smooth so I straight-knurled them as they were originally.
The last thing to do was to make up a simple guard to replace the one missing for the head pulley. This one is made from scrap 2024T3 aluminum.
This little feller had led a dog's life and had been neglected for many years, but I think it cleaned up pretty nice and will be a nice drill press. Gotta love these old machines!