Dynamic v static balancing

As many of you know I'm plodding on with my Jones & Shipman 520 rebuild. I have one shaft on and hope very soon to have a motor spinning (VFD currently being fitted) and then the second shaft mounted. The shaft currently fitted should turn at around 560rpm and the other shafts at 915rpm and 400rpm respectively. The product information I have proclaims that the shafts are dynamically balanced. I'm not sure how necessary that will be for my shafts - they are machined not cast and I've tried to turn them on a dummy shaft, so any out of balance should (:fingerscrossed:) be minor I hope. (I'll find out when I spin up I guess). I've never thought much about dynamic balancing something like this so would be interested in the thoughts of people familiar with the process. Making up a shed suitable process is possible although tricky - it's a matter of being able to relate an out of balance force to an angular position. As the v belt pulleys are small and light compared to the main flat belt pulleys (large diameter and heavier but the mass could be approximated to a single plane as they are 'thin'), would static balancing be acceptable? Making up some knife edges should not be difficult.
I do know that washing machines and high end power tools can be fitted with balancing rings (rings that either have fluid or balls in them - think of a ball bearing with no cage so the balls can accumulate on one side). I've never seen anything off the shelf though that I could just add onto the shaft. Again, does anyone know if they are available off the shelf?

Michael