Trailer spindle pitting

If the pitting isn’t too bad in the bearing area and the bearing and race are seated properly, you may get by with it.  If there is pitting in the grease seal area, then you may have some problems.

Looking at your photo it appears the outer bearing race is right next to the threads and not damaged, the inner bearing race is off to the right side of the photo and not damaged.  The middle area with all the damage is away from both race areas?   IF that is the case you are good to go.  The photo makes me suspect someone at one point in time with that spindle had a wheel come off and the damage was done as it came loose?

With just a picture to go by it is hard to tell but it looks like the inner bearing rides on the smooth area in the far right of the photo, just before it gets larger where the seal would ride.  Either way, install a good bearing on there and feel it.  If the bearing fits tight, has no wobble or play it should run fine a long time.  If it has play or if you can't adjust the hub properly with two good bearings in there the spindle is junk.  You should be able to run the adjustment nut down with your fingers till all play is out of the bearings.  If you put a wrench on the nut and to a little more the hub should start locking down due to the friction of overtightened bearings.  If you tighten the bearings and the hub is loose junk the spindle.   Keep in mind we are working on a boat trailer, most trailers only see a few miles each year, a little extra play might wear the tires more but with good grease will still last a very long time.

The picture is telling that at one time water sat between the bearing causing the pitting. With a clean up and new bearings I feel you would be good to go and hit the road. 

I am installing new hubs/bearings and tires.  I think will install and see how they feel. I dont have any long trips planned this year.  This upcoming winter I will replace spindles.  Thanks for all of the advice guys!!

Last September when I worked on the trailer mentioned above I tried to buy a new axle, I was told $400-$650 and a 8 week wait time.  Maybe it is better now with things opening up more.