So it just arrived!!
I bought this for $99 on ebay because it was free shipping. If shipping was about $30, I figure I paid about $70 for the machine.
After plugging it up, the lamp lit right up and the machine did run. However it is extremely dry, caked up with lint and other dirt and dust, and the motor smelled a little. You know that old electrical kind of smell. The finish is in amazing shape, there isn't a lot of rust, barely any actually. The belt actually seems to be in good condition, but I'm going to look for something a little more sturdy.
Tomorrow I'll start tearing it down. A guy named Bob Fowler on youtube posted a series of videos rebuilding a 66 and I feel like I can completely take this apart with the help of those videos, and clean/buff all the parts before reassembling and oiling everything. I'll tear the lamp down as well as the motor and the foot pedal and replace all the wiring as well.
I'm super excited about this project!