You now have a few ways to remedy the problem. A spring stuffed in a socket is a great idea, and simple to do, with out machining any parts. The poster that said to use a open end wrench has probably the easiest solution of all. As already mentioned, the R-8 draw bar threads are 7/16 NF
As for the drawbar. They don't need to be hardened. On my own mill, I have replaced the drawbar with my own shop made draw bars. I just pick up 7/16 round stock, and thread the end with a die. I also have also milled a couple of flats in the bar so I can use set screws to lock the upper portion to the lower. I used to weld them together yrs ago, but found the heat didn't help the warping problem any.
Some people will also make the drawbar extra long on purpose. With the use of spacers, they can easily remove a spacer, then cut off the worn out thread, and the draw bar is as good as new with in minutes. I don't use the spacers on mine, but I understand why some would use that method, be it for tooling that requires it, or fast way to repair a damaged drawbar thread.
The photo posted earlier would take care of the problem if the tooling requires draw bars of different lengths, though spacers would work fine as well. One thing I have run into over the years is, finding the threads in some collets not cut as smooth as I would like. I do keep a test bolt in my tool box to check and make certain any new collet or tooling screws in without tight spots. If they don't I blow the threads out with compressed air, and retry. If the threads look good but still wont go, just run a tap through it, and should be fine. Other wise, if the thread looks bad to start with, simply return the product.
If running your machine without the drawbar and tooling still makes noises, you may have caused some damage , and need to go deeper, but hopefullt not. But as Tony says, it is possible.
Reading your last comments. Are you saying with out the draw bar, your noise has gone, except for a second when restarting after shifting to Hi range?
You should be aware that when shifting the lever positions, you should grab the spindle and be certain each move you make is locked in place. Also, I think I would run it at several lever positions, and take note of what setting creates the noise. I could be a simple adjustment, from a loose set screw , but try and look a little deeper. If you can find a online manual, it would help you understand your machine a lot better.