i rehabbed a 26. I ended up putting a new spindle assembly on it. You can get them new on ebay for about 350. I also upgraded the motor, pulleys, sheave, etc. it was all die to slowly finding more and more issues. I ended up sinking a lot kore money into it than i wanted to. I ended up selling be because of various linitations of the 26. I wish i had just bought a newer unit to begin with and saved the hassle.
OWWM forums/site was helpful.