Neil,
I have a 1969 Hercus, these were made in Australia as a copy from South Bends drawings as a cooperative venture prior to WW2 and after. I have most of and more bits and regard it as a VIP machine in my workshop.Most parts are the same mine is driven in whats called a P Pattern overhead drive, yours will be driven underneath (takes up less room).
There are forums in America devoted to these South Bend lathes. Some are ball race shafts and others like mine other bearings.
On the Aussie site look up U Beaut Forum and Metal Work sub section Hercus as well.
Go for it if you can, if you excuse me I show my lathe on a clean day.
Kind regards Peter.