I priced grinding an scraping ways on my 1950 Utilathe 12x48 lathe (think heavy iron machine) from two shops here in the Pacific North West - the only two who do this nowadays apparently. Work included grinding and scraping the ways, and resetting the headstock and tail stock to factory heights, and flatness. Way way under .oo2 tolerances, more in the range of .ooo2 or less.
Price quotes were: $4000 USD in Washington, $6000 Canadian in B.C. ($5000 USD more or less)
Although this is 2x whatnImpaid for the lathe, Iam considering going ahead with the work as I would end up hopefully, with a new condition lathe, having equal,or better components and construction than a low end COTS import for the size and same price.
On the other hand, 5k is a lot of bucks for an old lathe... I guess it depends oh how well you value the machine you presently own....