It needs new wiring. The power and foot controller are wired just like my 221 so I already have experience wiring that. I do need to get a new plug since the original plug has soldered connections. I was able to run this machine today and "stitched it in". At first I had trouble with the tension and I could here the thread catching underneath somewhere. Using my new skills as a Ray White "certified" sewing machine technician, I isolated the problem to the needle plate springs. I was able to adjust the one that was catching the thread and now it seems to stitch just fine.
I had the motor out today and cleaned the commutator and checked the brushes.