Well step forward several months and his wife was tired of it taking up room in their house, so he approached me again asking if I wanted it I could have it for free. I told him I would give him $25. We picked it up and brought it home. I found out that it is not as big as I thought, It is long, but it is only about 3 feet high and maybe 2 feet deep. I am not sure where he got the idea that it was working as someone had cut all the wires to the speakers and the interlock. This happened a long time ago, because some of the wires had green goo leaking out of them. It looked like someone had tried to Jerry rig the console to play from an external source to the speakers.
The Record player looked to be in good condition, and has a sharp needle in it.
The chassis was held in by only 3 screws, I blew off about 50 years of dust. I think it was made in 1964.
I checked over the circuit board and did not see any obvious defects. It took about 3 tries to identify the correct wires to input power (dim bulb testers are a life saver), as the wiring is cramped under chassis. I Identified the Proper speaker connections and hooked them up to my bench speakers.
I powered it up on AM and it worked, I scanned the AM band quickly and everything is good there. I switched over to FM and did the same thing (all good). FM Stereo on the other hand is muddled, and the stereo light does not come on (I have not checked if it is good). There was NO hum on any band. I changed out my Dim Bulb for an amp meter and got around .3 amps reading.
I rebuilt the power supply and replaced a cracked resistor circled in green on the right. I replaced several other capacitors on the main board.
The it struck me. This thing puts out 2 volts, 2 volts DC.... Hmmm, let me think. LED. AH HA!
I took the old bulb, broke the glass, de-soldered the bulb and melted out the epoxy or whatever holds the bulb in. I Soldered in it's place an old red LED I had. It works perfectly and unless there is some kind of power surge, will probably last forever.
When I later got a Leader LSG 231 FM stereo signal generator, I was only able to improve the FM stereo alignment slightly better.
At some point I need to refurbish the Record player and then decide what to do with the cabinet.