Cari, I decided to have a go at it today. I turned the handwheel until I found the inside sway, then put a wood block against that part and gave it a tap...and another, and a bit harder....turned tapped, rapped, smacked,....and just kept a workin' on it. For anyone following this with interest...I didn't pay a lot for this machine and was fully aware I could be effin' it up good! But it worked! The handwheel is less wavy and I can spin it with just my fingertip!
Now to get back to getting it fixed up yay! Thank you!