A machine tool spindle is supported at its spindle nose in a front, rolling element mechanical anti-friction thrust and radial support bearing means. The middle and rear end of the spindle is supported in a magnetic radial rear bearing and further supported at a generally mid-position of the spindle by magnetic radial mid bearing. The two magnetic radial bearings provide radial suspension of the spindle and permit the spindle to slide freely. A spindle flange is axially forced by a magnetic axial thrust bearing to vary the pre-load of the mechanical anti-friction thrust and radial support bearing.