OK, finally some good progress, and pictures. First I should say Thank Goodness I had access to a drill press at work. Drilling 60 3/8" holes for the tines would have been a nightmare by hand. I feel for those who have done it that way.
I one picture you will see that tines holes drilles into a piece of 4"x4"x1/4" piece of angle (got it for $12 from the local scrap yard already primed). This piece also has 6 1/2" holes drilled through the front side to mount to the piece of 4"x4"x1/4" square tube ($20 new and primed) you see. This tube will hold the spindle until I find a welder.

I plan on getting the 1"x8" grade 5 spindle this afternoon. I also included a picture of the 30 tines I bought from Agri-Supply. The last of the pictures is of the 3pt set-up that I removed my blade from. It has and existing 1 1/4" spindle already welded to it, however it is not far enough back on the extension arm. I will be using a grinder to cut that off this weekend, and enlarging the furthesed hole that was being used to hold a stay pin.
On another note, if you all are looking for inexpensive spray paint, I was at Wally world yesteray and picked up 5 cans for 96 cents a piece. The guy said that it is made for them by Sherman Williams. I don't care that it does not match the tractor. For 96 cents, I can live with it.

I learned last night that ventelation is key to painting. After opening both garage doors, two windows and getting a fan, I felt better.
All the hardware (except the spindle bolt) ran me just under $10. I figure by the time I am done, I will have about $160 in the whole project. Not bad considering a new rake woudl have ran me a minimum of $400.
The last pick is my favorite beverage. Nothing like drinking a cold beer and feeling patriotic at the same time (not to mention it runs $7.50 a case).
I will post more pics once I have it all together this weekend.