I would start with a good clean out of the cabinet. Make sure there aren't any clumps of saw dust stuck in the pulleys or else where. After that I would remove the spindle and see if the vibration is still present. If it is still present remove the belts to see if the vibration is coming from the motor. If the vibration goes away check and possibly replace the belts. While the belts are off check the spindle cartridge for any play and check how smooth the spindle cartridge bearings are. Also inspect the pulleys on the motor and spindle cartridge for any damage or abnormalities. Are the pulleys tight without any play in them... maybe a pulley some how loosened up over time.
If the shaper is in good shape it could just be the belts have taken a set from lack of use.
A very high frequency vibration would point to the spindle/spindle cartridge/spindle bearings. A low frequency vibration would point to to the low speed rotating mass... i.e. the motor/pulleys/belts.
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