My CK was built 8/44, although mine wasn't raised from the basic 14.5". I have later model Monarch that I use (rarely) for the bigger stuff. Also have a '44 K&T 3K vertical. No radial arm drill though, while having one would be nice, my space is no longer clammering to be filled.
Does the rattling settle down when the spindle is engaged (spinning)? If so, it is not unusual. The clutch plate floats on the shaft when the clutch is not driving the spindle and can make a ringing rattle. There are some keys in there that get worn that make it worse. I wouldn't rate fixing that as critical but t does help the rather annoying rattle.
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If you tear into the clutch, be careful to count the turns on both the inner and outer threading of the clutch spider when removing it. If you don't it takes a bit of fiddling to get the clutch to work right again.
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These little springs, which are often missing/lost, help release the clutch, but if your clutch is sticky, it may need to be degreased. There is a grease fitting to service the needle bearing that the clutch pulley rides on, but it is easy to overgrease and it will make its way to the clutch giving you a sticky clutch. You don't want to neglect that bearing though, it is no longer available and if it goes bad some modifications are necessary.
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