I followed BillWay's Thorens manual, and got all the voltages adjusted to spec, I didn't have to adjust the speed pots, all speeds are dead on.
The phase voltages were not grossly out of adjustment to begin with, they were .4 to .5Vac off.
After the adjustment, the start-up rattling sound's gone, the belt doesn't slip off the pulley, and started up smoothly. But after it got up to speed, the motor's still making that "knocking" noise. The motor's also making the "knocking" noise faintly with the belt off (no load). The pulley wobbles a bit.
So I think the motor shaft's hitting the bearing while it's turning, or the shaft somehow got bent. But I like the smooth start.