Well, me and dad took it apart, turns out Darryl was pretty on the money, the bearings weren't shot, however they were out of alignment in the housings, so we cleaned the housings out and some crap off the outer of the bearings and put them back in where they are meant to be, new belt on and it has stayed intact, so it seems that was the issue. Also the cutting cylinder is where it should be now. There aren't the 2 long flats on the lower pulley like the top one, but those "inappropriate" things on the inboard side of it are actually part of the pulley itself. It was the bearings and housings being dirty that were causing them, and hence the pulley, to be out of alignment. Now I can get on with redoing the paint job

Cheers,
Kelsey