The spindle bearing on my Logan 820 was "cogging" or rough when I got it. I soaked it in brake cleaner, rinsed in kerosene, and blew out with compressed air probably 8 times over a two week period. Your bearing is probably fine (as mine was), just filled with ancient hardened grease. Give it a good patient cleaning, and re-pack with modern grease and see how it feels. I suspect it will be just fine.
You can probably fix about 80% of your problems with a thorough cleaning and lube job. There will be some chipped gear teeth, and even some missing gear teeth. Chipped teeth are often usable, and then you watch eBay for a good replacement when it comes along. Logan/Powrmatic were very popular machines, and used parts are easier to find than many other brands.
I have made replacement gears for Logans before. Yours look like simple 16dp spur gears. You can sometimes get them new from Boston Gear, or if you're not in a hurry and will spring for the material (we used cast iron), I'm sure we could help you. I like seeing the older machines restored and used again.
GG