My first thought is that you have a wobbly belt(s). I hear this description all the time...
"side to side wobble about 1/8" "
Here are a few comments:
The belt manufactures don't pay a lot of attention to side wobble.... The majority of belt uses don't need true running edges. So, occasionally, a belt manufacturer will release a batch of belts that wobble more than others. Even premium belts. So you might try one then another and another and find that they all wobble a bit. And the more you pay attention to it, the more you'll see that nearly all belts have some degree of wobble.
I've also seen belts that don't have parallel edges...or that are not 2" wide every where...which makes them wobble.
Finally, belts are living breathing animals. They are sensitive to stress, temp and humidity. In damp humid conditions, they'll curl up. If they are left on the machine under tension, they will distort. So you might have been grinding nicely the night before last...and then this morning, notice that the belt is wobbling.
I know I sound like chicken little..in that there is no hope and we are all doomed with wobbly belts...But in a sense...that is what I'm saying. Sometimes they are better than others..but occasionally they will be terrible.
Here's the test: is it the belt or the machine?
Every time the belt makes one rev araound the machine, all of the other rollers make 6-8 turns. So if we have a wobbly roller we would expect the belt to wobble mulitiple times for each rev.
Put a mark on the belt...maybe a dot of paint for example. Then run the machine slowly and notice if the side to side wobble corresponds in frequency and amplitude with your paint dot. That is to say...the dot moves to the same side...the same amount everytime the belt goes around. If this is the case...it is the belt that is not true.
Yes, crowned rollers really help to make the belt stable.
I really don't mean to sound so negative...and I truly hope this helps a bit.
Sincerely,
Rob