Okay, I finally got around to pulling my TT out of the entertainment center.
I cleaned off the motor shaft, as there was a bit of residual rubber from the belt. Not much, just a tiny bit. I cleaned the same from around the platter. The belt itself seems not too bad. I can feel a slight, small spot on the belt when I run my fingers around it. Don't know if this is what is causing the thump, but I'll get a new belt, anyhow.
As far as a user mentioning the spindle bearing...help the ignorant here; where is it? How do I get to it? What will I be looking for?
As far as any lubricating in the PL-514 manual, the only thing they mention is putting two drops of oil in these small holes above the motor, where the shaft is. I will do that as that is simple.
As for this thing about the tonearm playing "catch up", that's way over my head. I hope that isn't the problem.
The only other problem will be the scent of rubber, like it is getting hot or something. No one here addressed that for me. Until I get a new belt, I'll try this one and see what happens.
Also, besides this spindle bearing, which I need help finding, is there any other areas that may need checking or lubricating?
Sorry for dragging this on, but I don't want my TT to get worse if things can be done to help improve it that are simple in nature. I tried to find a "service manual" here for this TT, but could not find one, just a users manual. I thought a service manual would have been a big help.
In the meantime, I hooked up a Kenwood KD-40R TT. Not near as nice, but adequate.
As always, everyone's help here is greatly appreciated.