I don't think you can attach a video to a post, here. Were you able to see the shuttle? Here is a video about threading the shuttle and machine at
https://www.youtube.com/watch?v=_HbICbcF1tk It seems like a lot of the videos are noisier in general than what they seem in real life. Quite probably it is in need of oil, cleaning (although it looks in really nice shape), and maybe a little adjusting.
{Edit} - FYI - the 127 came after the 27 and I'm pretty sure all the 27s had a spoon shaped metal piece under the tension assembly to release the tension to pull the thread through easily, whereas the 127 had an automatic tension release when you raise the presser foot it has a pin that releases the tension. Sometimes these need to be disassembled and cleaned to have them work properly.
Another {Edit} is the slide plate in one of the drawers and are there any other goodies in the drawers? That really is a nice looking machine. I don't remember the belt guide on my 27 treadle. Oil is probably needed on the treadle, too. You just don't want to get any on the belt.
Janey - Neat people never make the exciting discoveries I do.
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