The wire seems to be copper and is designed to be pulled out a little at a time. I would guess there is a few feet of wire. My guess is from the mid 50's to early 60's. It shows no sign of being used.
I have somewhat of the same set up. My advice is to paint them white...a little hard to keep paint out of the holes.
Sure brightens thing up. Take care...
Yes...quite often. Most Chinese Home Depot type of equipment...Grizzly products etc. use them on every thing. Log splitters, tillers, chippers, everything Asian you buy.
I have that exact model...I love it...it's a beast. That is one huge nut, everything around it is steel. Just put the hurt to it so it won't fly off. Take care...CB