my bad, i must have confused you with someone else. perhaps check out the belt and motor mounts, I've heard that they can cause surface finish problems too. probably easier to check for play in the bearings first. (this is not to detract from your wonderfully robust draw bar )
i think we have all been down that road. i made a similar repair to my draw bars. i shortened the hex to allow the bar to extend out the end of the hex and then tig welded the end . that way if i need to take if apart you only need to turn or grind off the weld. its been years and no failures.
A draw bar is a solid bar or hollow tube with a threaded end that goes thru the machine spindle in order to pull-in (draw-in) a collet or tapered shaft tool into the spindle nose taper. In the case of split collets this squeezes them closed, in the case of a tool it just pulls the two taper surfaces tight together so that side-loads and vibration cannot cause them to separate during use. Most of mine are suitable lengths of all-thread, with nuts and washers as needed.
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