This instructable is about how to overhaul/re-build a Craftsman radial arm saw. I also included instructions for some modifications I made so that it can be stored compactly against the wall of my 1-car garage.
My father recently gave me his old radial arm saw. It had been sitting in his garage, un-used, for at least a decade. Despite the fact that it was rusty and wouldn't rotate, I gladly accepted because my work space is too small to use my table saw for cross-cutting lumber.
I used this manual: http://www.owwm.com/pubs/detail.aspx?id=2498
but there are many models of Craftsman radial-arm saws, so you may have better luck looking here: http://www.owwm.com/mfgindex/detail.aspx?id=222&tab=3
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Signing UpStep 1Remove saw from arm
The saw I have is really heavy. It must be over 100 lb. To avoid injury, remove the saw motor from the arm first.
The only limitation on the movement of the saw blade on the arm was a small socket-head screw. I removed that, released the brake, removed the anchor for the coiled cord and slid the motor off the arm.
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Based on the flattening, I would say that the rods aren't hardened. I was able to flex them a bit, by hand. Also, there are holes drilled in the ends, which is not something you could easily do with hardened stock. The holes could have been drilled before heat treatment and quenching, but I don't see any deformation at all. My guess is it's cold-formed medium- or high-carbon steel, which is strong, rusts terribly, and has very tight radial tolerance.
Oddly, the problem was only on one side---I lost track of which side, but I think it has to do with how forces are distributed when the saw is under load.
Your father's basement must have had some moisture in the air to cause the rust. It is good you were able to remove most of it.
Thanks for your response. Congratulations on its Featured status.
http://img153.imageshack.us/img153/631/rastable.jpg
It was a good deal for $20.