Steve,
Whether or not you choose to dismantle the spindle depends on several things. First, is it a babbitt or timken bearing spindle. Babbitt spindles are much easier to remove. Timkens will require you to break down the spindle assembly in a particular order. I would recommend you find your parts list for your model
HERE. Secondly, do you want to go with a solid V belt replacement or segmented. Personally, I cut the old belt off and put on a segmented without having to remove the spindle at all. Mind your maintenance though, and check your bearings regularly. The solid belts are truer to original, while the segmented are easier to deal with and help reduce vibration, though are more expensive.
Terry