I ran across this three year old thread started by Rifle. He revitalized a Belgian Colt including tightening up a loose arbor. He does not give info on how he accomplished this but I would like to know. I recently acquired a beautiful but well used Belgian Colt with a loose arbor. Check out Rifle's post.
http://www.1960nma.org/BB/viewtopic.php?f=1&t=23