I like your spool pin set up. If the spoked wheel is original to the machine it probably was a treadle. Yours has the earlier decals than mine. There's been several discussions about the spool pin plate yours has on other groups over the years and lots of people have shown pics of theirs that look like mine, most are after 1952 or so.
I found Elizabeth in an ugly blond economy cabinet which has since been stripped of hardware to fix another cabinet. Elizabeth now resides in the cabinet I got my 404 in and it needs refinished and one side glued back on. It has the cool hidden drawer in the left side of it and has a knee lever which I love to use.
Cari