Alex - I hear you on the feed rod. I was having a dajavu moment. When my lathe was new I noticed persistent spiral pattern overlaying an otherwise nice finish. The lathe was purchased from Modern Tool & they had a guy come out. He said it might be a bent/distorted shaft issue, particularly if any movers had a strap around it which is a no-no. The shaft got removed & now my memory is fuzzy (+15 years ago). I thought they ordered a new one from King because it took a while. (I think) he also made a bronze bushing for the side of the headstock casting where this shaft goes in, saying that was another not-so-good feature wear point of this lathe. Anyway, that's all ancient history. Its been cutting great up until this recent steel cutting episode. I was taking 0.015" DOC passes on coarse feed, 1144SP steel. I would not have thought this was excessive, but maybe it pushed an underlying issue? The motor loaded a bit & steel was warm but not groaning. As I progressed through the job I started to hear that click-click sound (clutch) which got progressively worse. I'm starting to wonder about that bushing now. If its worn or distorted, it might be masking an issue on the clutch. Maybe it has resistance or shows up under load?
That cross hole also has be wondering. That is the datum that sets the clutch housing in position. If its in or out that could the springs out of range. I'm not sure if Modern drilled it to suit. But that doesn't explain why it could be running good up until now. New springs is the easiest thing to pursue right now. Maybe I can find a length & cut some various lengths. I'm a little unclear what to take apart to get the shaft out but that would be the thing to check now.
Dabbler - if my crankshaft part was 90% done, yeah I'd finish it by hand wheeling vs. power feed. But I have a series of precision surfaces for various bearing fits. Based on some practice pieces, it needs to be maintained in the setup for the whole operation & power feeding is really the best way to sneak up on the OD for finish & fit. Actually only the counterweight OD portion is done, the reduced sections were just being roughed when the problems arose. If the lathe is iffy, now is the best time to remove the part & deal with the lathe. I can get back on track remounting the part dialing in with 4 jaw chuck & the end has 60-deg c/sink for TS center. I'm just impatient & PO'd - I want to make engine parts & not deal with maintenance issues right now. But it is what it is.
Regarding bypassing the balls & springs - actually I can move the carriage longitudinally with the crank wheel under non-power feed. But I wont risk power feeding by locking the clutch down. Its kind of like the fuse, next thing to break is something in the driveline which would be a much uglier & expensive problem. I think JohnW is right. On this style of lathe, there is no shear pin. I think that's what this clutch design is about, at least what I can determine on the power feed. Maybe there is shear pin on the threading driveline, not sure.