I hear that. Had no doubt that this one needed repair because it was free spinning. But I was wrong once again. Just needed some love spray. I live in a salt air environment where anything that sits will rust up fast
Those guys are right. Clean it up and repair what you can. Spend time on getting the slides right. Surface shield and fluid film are great products for old rusty stuff
Send a couple more pictures. My uncle grew up back in those days and knows everything about old IH stuff. His father owned a dealership and I'd be happy to show him but it's hard to read the tag