I'd wager its going to last another 50 odd years in the right hands. Trouble is, these days the young uns want CNC equipment so they don't "learn" proper machining with thought / skill put into making something
Significant that on fleaBay, the used Colchesters cost more second-hand than your bargain Chinese job. And they'll still be running in twenty years time...
Go to a yacht chandlers and buy a clevis pin of the correct diameter and length and a split pin. The clevis pin replaces the pivot pin and the split pin locks it in.
