I just finished pulling the swingarm and taking a good look at everything after cleaning it up nicely. Now I understand all the issues/concerns and I see the value of those clamps discussed in an earlier post. Contrary to what I thought, I discovered that those set screws/lock nuts on my cradle are NOT threaded into the spindle as per Ludwig's. They are just threaded into the cradle and push against the spindle ...that's it. So either I need to have the nuts welded to the cradle, tap the spindle for the screws, or do the clamp thing. I'm tending toward the clamps.
It also appears that one of the bushings was turning in the swing arm. The bushing easily pushed out by hand and the internal part of the swingarm where the bushing mounts is shiny. The other bushing had to be driven out with a socket as a drift and a hammer - not shiny.
The spindle has some play in the cradle though once the bolts are snugged up, of course, it does not. But from other comments, it sounds as if there should be no play between spindle and cradle. Is that correct? If so, I'm not sure what I'll do about it.
I plan to renew all the parts associated with the swingarm - bushings, o rings, washers, and the spindle. Not sure when I'll actually do that but I'm going to reassemble it so I can ride on Sunday. I plan to use some loctite red on the bushing that was turning in the swingarm and I'm hoping that when the new bushing goes in, it will be a tight fit.