I am one who thinks the axle should be replaced - as I did mine.
The axle is almost 50 years old - metal can fatigue, springs get weak etc - for relatively little money you have brand new running gear, upgraded bearings/hubs/brakes that will last many years - in my case the new axle is much more stout - I also think the newer drums are more in balance.
Another reason I replaced is because my bushings were badly worn - almost to the point to where the springs would have fallen off.
I also replaced my hitch - to a modern 2 5/16 in ball.
Plus when its new it all looks soooo pretty.......
Ken J