Hi Harry.
The recess in the round 'bearing block' is approx 3.75mm deep (housing a bearing + two hard washers total thickness 4mm) – so outer washer sits c. 0.25mm proud of the face. Bearing is a 1226, I think – the recess is 27.30-ish diameter…
The handwheel 'boss' upon which the adjustable collar is located seems to be unmolested, lengthwise – the collar is (as near as I can tell with feeler gauges) c. 0.15mm or so shorter than the boss, so that there is clearance for it to rotate without binding when the complete assembly is all in situ and tightened up. Hope this is clear / makes sense.
I have some reservations whether the boring of the bearing block will be feasible unless you have access to another lathe to do it on, or can find a spare (or even make one).
As Nick says, and I hinted at the beginning, I'm not at all sure that much is to be gained – the greatest thrust comes when cutting (towards the headstock), and the bearing already fitted at that end of the leadscrew takes care of that – at best this will only ease the action of returning the saddle to the 'tailstock end' – a circumstance which is only really coping with the resistance of the carriage – if the action of moving the carriage feels stiff, recheck the adjustment of the saddle clamp and setting screws.
If you do decide to go ahead, DO check all measurements with & against the fittings on your own machine to check that everything will fit and work together as expected.
PAY particular attention to the depth of the recess and the relative position of the shoulder on the leadscrew – the bearing must seat in the bottom of the recess, and not on the leadscrew shoulder!
Kind regards
D.
Edited By DiogenesII on 16/11/2021 06:44:11
Edited By DiogenesII on 16/11/2021 06:50:22