Any chance you can provide a picture of the worn out keyway? I've never seen that happen before.
Transmission work in these is pretty simple. I have found that it's much easier to remove the transmission and dissasemble it on a table. No special tools needed other than a set of snap ring pliers, which you may already have. You may actually have trouble finding a repair show willing to take this on as they tend to shy away from 50 year old machines.
You may also want to look around for a complete used axle. Around here, a 3 speed goes for about $50.
Jason
Transmission work in these is pretty simple. I have found that it's much easier to remove the transmission and dissasemble it on a table. No special tools needed other than a set of snap ring pliers, which you may already have. You may actually have trouble finding a repair show willing to take this on as they tend to shy away from 50 year old machines.
You may also want to look around for a complete used axle. Around here, a 3 speed goes for about $50.
Jason