Can anybody rightfully claim to recondition or refurbish a motor so that it's literally as good as new?
No. All the electrical and mechanical components undergo natural aging, augmented by thermal and mechanical stresses caused by heat, vibration, contamination and torque throughout the previouse operating life of the machine.
A new winding would "start the clock" again, but that won't affect the bearings, and vice versa. Neither replacment will directly affect shaft integrity. Some degree of life extension is always possible and can result from many appropriate repairs. But whatever the orginal life expectancy could have been remains unknown, and no one can expect it to be fully restored by any rebuilding process.
Source: Electrical Apparatus June 2019