Precision tapered roller bearings are far more expensive than industrial quality. The manual shows this lathe uses 32007 P6 bearings. Industrial grade of this size costs in the $50-70 range, P6 would be about double that, and going up one more tolerance class to P5 would be at least double that, and more likely 4x the cost. That of course is using quality name brands, you can certainly find cheaper ones out there.Tapered roller bearings are usually cheap, so no need to be hesitant about adjusting preload.
@compact8, 6 revolutions is too much for proper preload. Since the machine is 25 years old, the grease is probably used up, so it would be worthwhile to remove the spindle and clean out everything and inspect the bearings. Components over time can get stuck on the shaft as well, so cleaning everything will enable you to set the preload properly. Even with no use, the bearings can sustain damage. Since you live in a city, there is likely vibrations from traffic most of the day that can be transmitted to the lathe. The rolling elements will over time wear slight grooves in the inner and outer races from the vibration. If you disassemble the spindle, that would be something to check for, it will show up as very small marks that line up with the rolling element pitch. If you see that, I would recommend replacing the bearings, and don’t keep a chuck on the spindle when not in use if you are doing that now.
To remove the spindle, you might be able to make a press off tool instead of using a hammer to loosen it. The press off tool would have a screw that presses against the spindle to push the spindle out and eliminates any damage from using a hammer to loosen it.