cut-rite you have the correct procedure for a Hercules spindle on the Ferris machines but this unit being a 2007 has a 4 bolt aluminum spindle on it.
itteitj once you remove the nut from the top of the pulley there is nothing holding that pulley on the shaft. I would soak it in some PB blaster for a day or two and then remove the grease fitting from the top of the spindle and use a 3 jaw pulley puller to remove the pulley. When you re-assemble a pulley on the spindle shaft I would recommend a good dose of anti-seize. Hope this helps.