While you're in there, might as well replace these 2 seals as well as the one for the motor shaft since you're replacing that bearing. The ones circled (2 stacked on top each other) prevents oil leaking onto the spindle/quill. I just had to replace mine last month.
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Thanks Darkzero - I think I have ordered replacements for these seals (35x45x10mm Nitrile Rubber seals). I ordered the following bits to replace all seals and bearings (including the two motor bearings as there is an annoying squeak from one):
2 x NSK 6205ZZ Metal Shielded Deep Groove Ball Bearing 25x52x15mm (6205ZZ-NSK) = £11.68
3 x NSK 6003ZZ Metal Shielded Deep Groove Ball Bearing 17x35x10mm (6003ZZ-NSK) = £12.57
3 x NSK 6007ZZ Metal Shielded Deep Groove Ball Bearing 35x62x14mm (6007ZZ-NSK) = £24.27
1 x Timken 30206 Metric Taper Roller Bearing 30x62x17.3mm (30206-TIM) = £13.19
1 x Timken 30207 Metric Taper Roller Bearing 35x72x18.3mm (30207-TIM) = £16.45
2 x NSK 6202ZZ Metal Shielded Deep Groove Ball Bearing 15x35x11mm (6202ZZ-NSK) = £7.58
2 x 35x45x10mm Nitrile Rubber Rotary Shaft Oil Seal R23 / TC Style (35x45x10_TC) = £6.24
1 x 75x90x8mm Nitrile Rubber Rotary Shaft Oil Seal with Garter Spring R23 / TC (75x90x8_TC) = £6.67
Not certain about the last item (seal for the end of the quill - I couldn't find a 75x90x6mm seal to match the Grizzly specified part - so this one is brought on spec to see if it might fit, otherwise I will reuse the original that looks ok. I think this seal is really a dirt/dust seal and not as critical as the gear box oil seals.
No doubt that the Timken and NSK bearings will be a good investment and should last a lot longer than the originals.