There is a hole on the right side of the head, and a stick in the toolkit that fits the hole. The stick looks like a spare handle for the Z axis feed, but isn't threaded on the end. This will let you lock the spindle and apply more torque to the drawbar.2. I have installed a collet +tool in the mill and tightened the draw bar with a wrench while holding the spindle with my hands only. I believe this is the proper way (although I feel I should be tightening it much more like a meathead!). Is this right?
Initially it is, but you'll want to fix it.3. While the tool does not appear to wobble noticeable and my dial indicator shows the bottom portion of the spindle has at least less than 0.001" of runout, the draw bar at the top of the spindle and the spindel nut is off center by a few millimeters. Is this ok?
If you remove the drawbar, you should see that there is a metal spacer that holds the drawbar centered. The problem is that its center hole is way too big, so the drawbar can sit at an angle. The solution is to make a new spacer that just barely slips over the drawbar.
You can run with it as is for a long time. The problem is that the off center drawbar puts the spindle out of balance. At high spindle speeds, it will make the whole mill vibrate. Replacing the spacer will fix this. If you want to be really obsessive, you can also make a new washer as well. I did.