It is in very good condition - you'll have fun sewing with it, too - I love my VS machines. :)
There's a manual on the Smithsonian site:
http://www.sil.si.edu/DigitalCollect.../NMAHTEX/2678/ Nice large pictures of the scanned pages and you can see how to wind the bobbin, thread the machine and shuttle, troubleshoot the stitches, etc.
How lovely to have a family heirloom to sew with - you're so lucky! :)