Suffice to say that I got this replacement last year when my first original pulley blew at the beginning of the season (the mower is 6 years old). Then, last week the bearings in the 2nd (original) pulley blew (I hit a nasty rock that shattered the spindle bearings and the blades), so I just bought the same part as a replacement for pulley #2.
In all fairness, I only gave it a 4 in quality since it's still in its first season. But after use in green New Jersey, the bearings on the first replacement still are tight as a drum. the thing costs half the price of most other vendors.
The only problem is that part 121-0751 looks like it's only the spindle housing (at least in my parts list from Toro), but this is the assembly that includes both bearings and the spacers. It does NOT include the spindle, but my original spindle was fine. The entire spindle with bearings, spacer, and spindle is also available from another vendor.
Enough said. Thanks SLE!