I have that same Kenmore - maybe bought in 75 when I started college. As someone else said - it has sewn clothes - maternity and children's, church banners, hockey pads, motorcycle gloves, quilts, baby bibs, dress scarves, towels, Halloween costumes, etc.
Every time I have it serviced, the guy says, "Never give up that machine. They don't make them heavy-duty like that anymore." The machine is total metal. My only problem with it is the pressure foot adjustment. There is a missing ring on the column to the foot (in the parts schematics for Kenmore) and no one can get that part anymore. Still sews great otherwise. I wanted a few other stitches, so I did break down a year ago and got a Viking Sapphire. Both machines go with me to quilting group.