Honestly the trickiest part with many of these old SGs isn't even the bearings, it's the balanced and matched motors that were attached to the bearings.
Unless it's giving you finish problems, I'd clean it up, flush whatever lube the spindle bearing uses, re-lube it, give it a good warm up, and use it till it does.
The important part with using stones is learning how to properly dress them for your application, using good quality stones (I've seen bad stones shake a machine so bad I was sure the bearings were shot, but were fine), and taking proper DOC, which is usually much lower than what the "general guidelines" are, when you're cutting thin hard steel.