Assuming the nuts have not been overtightened in the past, and tightened to spec (37-39ft lb) the threads will hold up.
Gpo nuts were just double ended.
Hmmmm. When I bought it there were 4 brand new tyres put on it. I guess that they used a windy gun for them. Might be worth me getting the lathe out for a session. 3/8 UNF, aren't they?