Even more important - check the wear on the TILT mechanism - this is done with a curved rack and pinion, only the "rack" on these saws is part of the trunnion casting. If the rack gear is too worn, tilt won't work right and the ONLY repair is to replace the entire trunnion. This part costs approx. $450, and the matching pinion gear is around $70.

I know this because I recently bought the same vintage saw from a cabinet shop (I know ) and found out while cleaning out the pickup load of sawdust afterward that the tilt had been blocked in place with a piece of oak - further examination showed that the rack gear was REALLY worn, and even with adjusting the backlash it wasn't right.

The GOOD news, in my case, was the integrity of the previous owner - apparently he had no idea one of his employees had done this, since they only used it for 90 degree rip cuts - so he told me to order the parts, and he would pay for them.

Now all I have to do is completely disassemble the saw and install the new "guts", and re-align. Since the saw had just had its Leeson 3 horse motor rebuilt, when I get the new trunnion/pinion in place I'll have essentially a new (old) PM66 for $1000.

It's kinda hard to see these parts to check wear - you'll probably need an inspection mirror, flashlight and a small wire brush/air blower to clean enough caked sawdust off to see the condition... Steve