Earlier in this thread JPG recommended the Bill Mayo speed control improvement. Yes! It addresses a couple of things on the speed control to strengthen it and reduce wear. In your pic, I've circled one of the wear points as an example. Over time the hole in the legs sometimes gets enlarged by the reaming action of the spring tension (aka roll) pin being used as a hinge pin. Once there is wear in those holes the quadrant/porkchop can wobble a bit, accelerating the wear on both the gear and the holes.
The Bill Mayo improvement deletes the roll pin and replaces it with a screw. The quadrant rotates on the hinge pin rather than the pin rotating with the quadrant, and it strengthens the legs by tying them together. I've used a variant of it (larger screw or bolt) to save a speed control assembly that was junk because the highlighted holes were so enlarged.
Bill Mayo Headstock Improvement: https://forum.shopsmith.com/download/file.php?id=34357
