I'd trade you original finish drawers for the painted ones, and toss in a 27 in much nicer shape to boot. Looks like you need a lid too, I think I've got one of those, but it would be in about the same shape as the rest of the top of that cabinet.
I'm not in the "Save every one" camp. And this one I'd not deal with. Too many important items (tension, bobbin winder) are painted and may never clean up satisfactorily.