The spindle should run smooth and free.
A complete rebuild with quality bearings, bushings, new belt etc is expensive.
However, if the bed is clean. Might be worth the investment.
Motors don't matter. Most of the 10inch came with 1/2hp or slightly larger.
Accessories also get pricey. So look around the garage/shed/barn and make sure you get all the pieces.
Daryl
MN