Dust collector, noisy and no lubrication?

I recently bought an el-cheapo 1hp dust collector ($160CDN new!) The thing works great, and the overall finish was pretty good for such a cheap unit.
However, when I shut the motor/impeller off, it spins for a second, then I hear what sounds like a centifugal clutch dropping out. Then, something inside spins down but there is NO lubrication and it screetches like a banshee. Direct metal on metal.
I don't mind taking it apart to fix it. Can anyone point me in the correct place to start looking just based on my description? (I should post an mp3!)
Thanks Rob
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I am guessing bushings instead of bearings in the motor and they have pooped out already.
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On Tue, 22 Feb 2005 00:30:14 -0500, Rob Mitchell

I'd be looking for a fan blade rubbing the shroud.
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wrote:

I too would suggest that the fan is loose on the shaft.
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I would be looking for the banshee. That seems like it would be a problem.
~Josh.
"The one who dies with the most tools wins."
wrote:

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