Well, stripped the pump this morning.
All seems fine n dandy except I was mystified by the damage to the top of the inlet ball valve that sits under the 1" diameter piston.
OK, piston fit to cast iron body might benefit from being .001" tighter, but it's not worn enough to cease pumping entirely.
So, examining the valve more closely, I now see what's happened. Referring to pic c we see the valve, a ball and a pin. Now, I when I removed the valve the pin just fell out. Also, the hammering that's occurred to the top has slightly closed up hole A, meaning the pin was never in there (where it should have been to prevent the ball rising too far). It must have been lurking in the delivery hole B (under the ball) thereby allowing the ball to rise too far when the piston performed its upstroke.
Now, that pin can't have put itself there, so whoever was last in there failed to assemble the valve properly (wasn't me - I didn't even know where the pump was!). And I've had that lathe 30 yrs, so it might even have been wrongly assembled from new. I did notice the oil flow in the sight glass was lower than that in a friend's similar B21 model, but fortunately it was still sufficient. So clearly the ball has been allowed to rise too far - meaning further to travel down again before it seats and diverts oil to where it's intended.
Let's hope that's all that's wrong!
Update - no joy I'm afraid. Oil pumped up to filter, then a couple of fountains from the spindle standpipe - then nothing. I suspect it's getting air from somewhere, but sadly the plumbing is inaccessible without - apparently - a total strip down. Which I'm definitely not going to attempt.
Dunno where I go from here. My Boxford lathe is neither accurate nor man enough for the jobs I do. OK for making a valve guide - maybe - but that's about it. And at my time of life I've no intention of becoming involved with the hassle of getting the Holbrook to the dump and then sourcing / installing another decent lathe. What with my car expired just as 2nd hand car prices have gone up and the foul weather meaning I haven't yet been out in my boat this year, sometimes I just wish I didn't wake up in the morning.