67 Carl, congrats on the drill press. You actually have a 100 series not a 150 series. If you want to know more about the differences check out my thread here:
I went back and forth over what I would do with this post. Should I make it an additional post to FrankLee’s Craftsman Drill Press thread, or should I start a new thread? I know there are enough of us experienced guys to carry on Frank’s thread but none of us have access to the thread to index...
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The metal panel around the top of the head stock is one of the easy ways to tell the difference. Other differences are that you have a tilting table, the 150 discontinued this option and the motor mounts are different but otherwise the two drill presses are very similar.
As to your wobble. I would first inspect the inside of your chuck and the face of the jaws in the chuck. If all that is good, then you can try to reseat the chuck. The classic craftsman drill press has a Jacobs #33 chuck, and this chuck has a safety collar that sits just above the chuck. The original chuck key has a dog point on it that was designed to unlock and lock the safety collar, but I do not recommend you use it for this purpose.
Here is what the chuck looks like once removed, notice the safety collar.
The best tool I have found to unlock and lock the safety collar is this spanner wrench made by Gearwrench Apex Tools.
You can find the tool on Amazon for about $29.00. Look for, GEARWRENCH 3/4" to 2" Adjustable Pin Black Oxide Spanner Wrench 3/16" Pin - 81861, Multi.
Almost always, and wobble in a bit is a chuck issue. If you need to replace the chuck you can get the exact same chuck from Jacobs. You need Jacobs Chuck 14451 Heavy Duty Plain Bearing Taper Mounted Chuck, 0.5" Maximum Capacity, 2" Sleeve Diameter, 3-45/64" Close Length. They cost about $130.00.
So, if you verify the chuck is not the problem then the bearings can be the issue. You are correct that the quill bearings require a 5/8 bore. So that we are clear, there are 4 bearings in your drill press and most likely two inside the motor.
The two spindle pulley assembly bearings are the largest. They are both 6205 bearings. They measure 25mm bore x 52mm OD x 15mm tall. The two quill bearings are 6202 5/8 bore. A normal 6202 bearing has a 15mm bore so you need a special bore bearing. The 6202 5/8 bore measures 5/8” bore x 35mm OD x 11mm tall. I order my bearings from Accurate bearing, but you can get them anywhere as long as they are the correct measurements. I have used Freemont before, and my only complaint is that they do not put the measurements on their web site.
I will advise you to stay away from Chinese bearings. Japan makes great bearings and bearings made in the US are also quality. Quality bearings usually run about double the price of Chinese bearings.
If you are going to order from Fremont, do not search by the drill press model, search by the part number. Here is a link to the owner’s manual for your drill press.
The Spindle pulley assembly bearing is part # 18212
Sears Craftsman STD315255 18212 Spindle bearing
www.fremontindustrialsupply.com
The quill bearing is part # 18211 (the parts diagram only shows one, but you need two)
Sears Craftsman 18211 103.23141 Quill Bearing XF-121-PP
www.fremontindustrialsupply.com
Or you can just search the internet for 6205 bearing and get a Japanese bearing such as Nachi. Also search for 6202 5/8 bore and there will be lost of options. You do not need shielded (metal shields) and you should find a ton of sealed (plastic seals) options but both shielded or sealed will work.
Anyway, I hope this helps and good luck.