Part I: The author discusses how to maintain and repair machine tool spindles and what causes spindles to run out of round. Common sources of out-of-round spindles include loose bearings and improperly ground spacers. In-machine spindle repair is also discussed. Part II: There are three common ways to repair tapered toolholders: regrinding, replacing damaged material and chrome-plating. The author discusses each, along with its price, and gives advice about choosing an option.