I have the Colchester triumph 2000,is your version a square head or the earlier round head type? what bothers me is the excessive facing error, I just wonder if the machine was used on one job for ages and no attention was paid to oil levels and the bearings ran dry,the nut is worn ,again probably due to no lubrication.The bearing wear may be so severe that the springs cannot expand enough to contain the wear, as new bearings are so expensive and could cause the lathe to be scrapped,so no real harm can be done by packing out the springs or fitting longer or stronger springs,its well worth trying.the bearings may be worn ,the wear may be equal all the way round so accuracy may not be too bad, its certainly worth trying.