Points to ponder....
According to Eurekaprince this is the model 2072, and I'm totally inclined to believe him because he knows his schtuff well, AND mine like that you just got was used to restore the 2082 I have and the pieces are up in a box in Lansing. So not really gettable as of now.
I have to say that for a vacuum cleaner, you got one of the very best, as the only differences between yours and mine is the fact it has no Cordaway and possibly no Power Touch Grip . Right there you just lost like three or four pounds of weight. It should have the Vibra Groomer I, two speed 3.5 amp motor, yours has a nice boxtop, but is dented in the front. That can be repaired I believe. Should have like a 25 ft. cord, and is just a really excellent versatile cleaner.
Check the Rugulator for smooth operation up and down. Tilt back the cleaner of course before doing this. I would definitely unclip the hood holdown springs from underneath, and clean out the motor housing. After 35 years things are bound to be dirty and dusty. And these motors while 3.5 amp, still need adequate cooling to keep them tip-top. I wouldn't really recommend re-lubricating the upper bearing unless it REALLY needs it. The bottom one you cant do easily either, so if the motor sounds good...leave it be...
I would however replace the belt, remove all the threads from the roller, and give a few shots of zoom oil or an equivalent to the VGI. And while your there do the wheels too, or actually I'd use some graphite grease if your gonna do that.
Other than that I think you'll have a machine that you can easily reach for at any time, so I'd use it and love it all you can!!!
Chad