Along the lines of what Mochinist posted....
if the repair could involve only the moglice "rework" of the existing worn out plain bearing (something that is by definition trash since its now wallowed out), I would be more apt to say "go for it, you have little to loose". Since it sounds like the shaft is out of round or something, then you are now talking about cutting on a part that could be big dollars to replace. On the other hand, it sounds like you may be set up to do precision grinding so it may not be that unreasonable. Edit-- nevermind....I see you are talking about turning and grinding a dummy shaft.
All oil-lubricated "plain bearings" are "hydrodynamic bearings" in that the real bearing surface is supposed to be the film of oil involved. If a shaft spent much time touching an unlubricated babbit bearing, for example, you would have tin galled onto the shaft. Tin seems to be rather "sticky" stuff. They line the bores of starter solenoids and I have seen cases of sticky solenoids fixed only by wiping off the rubbed-off tin off the slug.
In any case, the key will be getting the fits right such that the film is kept constant given the original oiling system. The other issue I would think, would be preserving alignment????
Last edited by pcarpenter; 12-16-2008 at 03:42 PM.