update:
I removed the arbor from the saw on Friday night. Upon examination of the bearings, they were both worn out. Both had some "tick" to them, one was without lube, the other quite gritty in feel. They have both been replaced with new NSK for about $12.00 from the local bearing supply house.
Today I had a friend pick up a new arbor pulley from WMH warehouse in Auburn WA. The Jet tech said it was machined, but I have my doubts. Approx $18.00 for the pulley. Hopefully will have it tomorrow.
I reinstalled the arbor with the two bearings. I was unable to locate a wrench that would allow me to tighten the "special" nut as a means of drawing the arbor into the second bearing. Instead I had to use a hard plastic hammer to drive the arbor most of the way. Then a steel hammer to tap it the last couple of tenths.
The WWII is mounted to the arbor and I see a variation of approx 8 thousands measuring on the sides of the teeth. -5/+3 I will try to measure the runout on the blade flange tomorrow again. I believe the motor weight also makes a slight adjustment to the arbor as having the weight on the pulley through the belt likely causes some deflection.
The WWII is a most impressive feeling blade, very stout, sharper than any cutting tool I've drug a fingerprint across. Perhaps in a few days I will be able to use it.
Alan