Shot spindle?
 

http://i61.photobucket.com/albums/h7...psmyndvxmn.jpg

http://i61.photobucket.com/albums/h7...psmv1hinpq.jpg

I give up, what is that from? I know it's not a deck spindle.

Front right wheel. Bearings were bad and when I wiped grease off I saw that! A new one is $190! Ouch.

shouldn't hurt anything, id run it.

Agreed.
Get a new bearing or two and run it.

I'm a new guy here. I know some will laugh, but JB Weld and sandpaper will make that look almost new and last as long as the tractor.

You'll want to file or carefully grind down any high spots first. Put on the JB and let dry. Sand slowly. Check the (new) bearing fit often. When it goes on snugly, your ready to put it together.

I fixed truck steer axle that way years ago.

Thanks. I got new bearings. I think the old bearing was spinning on that spindle and chewed it up.

You can mig weld that spindle a little. Grind the high spots off so the bearings will slide on it and use it.

You could also try a spindle upgrade like:
http://www.loaderplans.com/spindle-upgrade
I did my 1512 years ago.

I suspect a good welding shop can remove the spindle and weld up a new shaft for a lot less than the price for new.

Could also watch evil bay or try one of the sponsors for a used one.

Good luck!

Someone has already been welding and grinding there.

I would run it also.

What's the worst that could happen?