Long story short – the spindle bearings need a good looking at or replacement.
Belt was as free as could be. Motor as quiet as can be when running through all speed ranges.
They are either adjusted so the spindle is free to turn, or if adjusted so that there is no play in the spindle, are "gritty" feeling.
I've got 3 larger lathes with adjustable spindle preloads, and they are all adjusted ok, so I'm not really a newbie at adjusting the preload on machine spindles.
Anybody ever taken the spindle out and replaced the bearings on a KX1?
I'll keep playing with this little mill. I think that if it needs much work, it'll be going on eBay as-is, which will be too bad, as I like the little thing.
Oh well – JohnS.
Another JohnS.