This paper proposes a study in theoretical and experimental terms focused on the vibration beating phenomenon produced in particular circumstances: the addition of vibrations generated by two rotating unbalanced shafts placed inside a lathe headstock, with a flat friction belt transmission between the shafts. The study was done on a simple computer-assisted experimental setup for absolute vibration velocity signal acquisition, signal processing and simulation. The input signal is generated by a horizontal geophone as the sensor, placed on a headstock. By numerical integration (using an original antiderivative calculus and signal correction method) a vibration velocity signal was converted into a vibration displacement signal. In this way, an absolute velocity vibration sensor was transformed into an absolute displacement vibration sensor. An important accomplishment in the evolution of the resultant vibration frequency (or combination frequency as well) of the beating vibration displacement signal was revealed by numerical simulation, which was fully confirmed by experiments. In opposition to some previously reported research results, it was discovered that the combination frequency is slightly variable (tens of millihertz variation over the full frequency range) and it has a periodic pattern. This pattern has negative or positive peaks (depending on the relationship of amplitudes and frequencies of vibrations involved in the beating) placed systematically in the nodes of the beating phenomena. Some other achievements on issues involved in the beating phenomenon description were also accomplished. A study on a simulated signal proves the high theoretical accuracy of the method used for combination frequency measurement, with less than 3 microhertz full frequency range error. Furthermore, a study on the experimental determination of the dynamic amplification factor of the combination vibration (5.824) due to the resonant behaviour of the headstock and lathe on its foundation was performed, based on computer-aided analysis (curve fitting) of the free damped response. These achievements ensure a better approach on vibration beating phenomenon and dynamic balancing conditions and requirements.