Removing and replacing the headstock for painting not a big issue. Clearly it will need to be clocked back in on re-assembly using the adjusting screws on the lathe bed and naturally all mating surfaces must be surgically clean. personally, I would acquire a MT2 test bar for set ups and alignments on the basis that they do not cost much and they help reduce sources of error and doubt.
The Myford ‘dividing thing’ is treasure in its own right…..
Really? I wonder how often they are actually used. Other ‘less faff’ dividing methods are available. Keep it well wrapped and protected from damp rust somewhere you can remember, against the one in ten year event that requires its use.
nb. you will find you use the test bar much more frequently than the ‘treasure’ (unless you are a clock maker)!