Thanks for all the responses! The bad news is I have already re-capped the power supply and cleaned the speed pots several times. Sounds like I have bigger problems.
Can someone explain the problems with the platter further? What are "runout" and "concentricity?" How do I correct them? What is the difference in "dancing" and "drifting?"
"Runout" is the wobble that would result from a bent spindle, a loose (worn) spindle bearing or a defective or bent platter. "Concentricity" is the opposite of eccentricity, or in the case of a platter, a spindle hole that is dead center in the platter.
I suppose "dancing" is the oscillation we're seeing in the video. "Drifting" would be a gradual change in rotational speed, either slowing down or speeding up but not oscillating.
Judging from your video, I don't think you have a major problem in either regard. I do see a tiny bit of up and down motion in the platter but just a touch. And, as I said earlier, I do see a repetitive sequence in the movement of your dots. That suggests to me a problem with the dots, not the motor.
It has been suggested that you get a tachometer to measure the precise rotational speed of the platter. You can do that or you can get yourself a plain old strobe disc. Vinyl engine has printable ones for free. If the hash marks on the strobe disc seem to advance and retreat in the same way that the marks on the platter do, then you have a speed problem. If they don't, you don't.
Quick question: did you recap the PS board and clean the pots because of what you observed with the platter or did you notice the problem only after you'd done the service?
John