Calem are you sure this will be a proper replacement? I was set on looking for the capacitor Tolivac described. It's hard to listen to reel-to-reel tapes when there's capacitors popping in the background!
Well Alex, you can always listen to it on the 4th of July, maybe then you won't be able to tell the difference. That's a super nice machine and well worth getting fixed properly. I would recommend you to find a skilled electronics dude in your area...COMPRENDO! Oh Noooooo, there goes the foreign language again!
Yes,try to find a .1 Uf cap at 400-600V-you should be able to get it at the same place you got the 1 uf one.400-600V will give you plenty of leeway on the 120V line-the higher voltages will better withstand surges.The cap is there to filter noise off the incoming line and prevent it from getting into the R/Pb amp in the machine.And RFI.The 250V rating would be fine if the machine was to be used in Japan-their line voltage is 100V..1 Uf is the standard value for line bypass caps.Also find these in radios,TV's and Hi-Fi equipment made in those earlier days.