AkDan made a comment about the wobble of the spool on the shaft, so I checked how mine is, and, sure enough, it wobbles. Which got me to thinking about what I could put in as a bearing like Ak said.
After thinking about it for a while I got up and shut off the smoke alarm, it was very distracting.
I ran across a couple of empty magnetic bobbin spools I happened to have at home with me, and tried to fit one of them in the end of the spool. It was an ALMOST but NOT QUITE fit.
Never one to let an idea die from loneliness I checked to see if I had a drill bit the size of the bobbin spool.
Fortunately for my original idea it turned out to be a 3/8th bit that worked and the idea survived another day. :D
I drilled, at high speed, into the end of the server spool from both sides and the bobbin spool slid right in pretty as ya please.
And here's the original bolt back in place, through the new nylon washers, through the two spools, waiting for the rest.
Surprisingly Murphy must of been causing grief in some other poor souls life for a change, because the bolt fit PERFECTLY through the spools. I'm going to fix it up like Rob showed now with the bent washers and bearings. I'd also like to find a thumbscrew bolt to replace the wingnut.
The server spool spins without a hint of wobble, very smooth travel.
Heck, may end up I like it after all.
If any of ya want a couple of those spools, I throw 'em away by the dozens daily.
~*OK....try guessin' what I do fer a livin'. Give ya'll a hint-it involves lots of threads, bobbins, and logos.*~