I got a free Delta 34-740C tablesaw (gloat, or maybe not). It had sat
outside over a southern Ontario Canada winter. The top was rusty but
a little sanding and some Topcoat got things sliding again. I had to
replace the plug too as previous owner had cut the ground pin off.

After a lot of oiling and greasing, I got a new blade (Oldham 60 tooth
finishing) installed and did a few test cuts. I couldn't get a nice
clean rip (wrong blade?). After I hit google and the newsgroup, I got
myself a dial indicator. Runout on the blade just below the teeth was
0.038. Runout on the arbor flange was 0.005. I found the high spot
on the arbor flange and did some sanding. I stopped after I got it
down to 0.004 and put the blade back on. Blade runout was down to
0.029 - still not good but a step in the right direction.

Before I go back to sanding I'd like to ask a couple of questions.
I've read that the proper way to address this problem is the remove
the motor, strip out the arbor , and have the flange fixed on a lathe
(BTW, this saw is direct drive). Can I expect that my sanding will
ever get the flange down to 0.001? Is hand sanding the flange
dangerous?

While I was sanding, I noticed that the arbor flange was not tightly
fixed to the motor shaft. I didn't notice any play in the motor
shaft. I couldn't move the flange in or out but I could, however, turn
it side-to-side (I'd say less than a 16th of an inch, just enough to
notice). I don't know how the shaft and flange are assembled - press
on, welded? With the blade installed everything feels tight and
secure but I wonder if this thing is safe. Any thoughts would be
appreciated.