worn drill press spindle

I have an old Drill press that has slope in the spindle. I can feel slope when grabbing and moving upper part of the spindle that comes out of pulley top.

I dissassembled spindle to check for wear. Spindle grooves look perfect to me. Here is my question: how worn spindle should look like?

Can it be that it's a worn sleeve causing slope not a spindle?

Thanks!

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alexkuzn
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