I do a lot of automotive work so the press gets used a fair amount. I had a little HF 12 ton and i became tired of pumping the jack handle in short order so i built this 20 ton with an air/hydraulic jack. I disassembled the jack and mounted a pressure gauge and put draw tubes in it so it can be used upside down. Sure is nice just hitting a button!
Before i get to the collet closer, id recommend disassembling your gearbox asap. mine seemed "fine" when i first checked it out but almost every bushing was worn through and the 5/8" shaft that the levers ride on was severely worn. Just a side note, McMaster Carr has every bushing and the 5/8" keyed shaft i needed. total cost was like $25. I did upgrade to the iron based Oilite bushings as they seemed to be rated for higher loads.
Collet closer mods:
1) remove the set screws and pull the old bearing blocks off the draw tube. They may be a light press fit.
2) take a bunch of measurements and figure out where your new handle will sit on the draw tube. There are steps where the bearings mount so if the handle will sit over these, youll need to turn them down to match the diameter of the rest of the tube. Just a note on this, the center hole in my buck 4-jaw wasn't large enough to pass the draw tube back through the spindle so i ended up using a 3 jaw set-tru chuck. I centered it as close as i could but it still a thou or two offcenter where i turned the steps down. Not noticeable during use..
3) Make a handle for the draw tube. I used a chunk of 3" aluminum. Part stickout is pretty far on this but didn't have any issues. I bored the center hole first for a snug fit on the draw tube. Then i wacked the end off on my bandsaw (that i also restored). Back to the lathe, created a step on the end of the handle that fits into the taper on the back of the spindle.
4) Drilled 2 holes in the handle (one on either side) and thread 5/16-18. These are for set screws to hold the handle in place. To prevent the handle from going anywhere, i marked the holes on the draw tube and milled flats that the set screws fit into on the draw tube. I left the tube long at first until i could try it out, then i knocked like 4" off the end. I left around 1.5" of drawtube sticking past the handle as i plan to make a spyder to hold long objects out the backside (thinking rifle barrel)