Update:
It turns out that we actually jumped the gun on the estate sale. We had been sent the wrong information and had gone there ahead of the actual sale. But Rick sold us the Loretone anyhow. But we went back for the actual sale and spent another $50. Came away with the vise for the saw, 5 more discs for the right side of the saw, (3 more Nova discs and 2 leather polishing discs) and another large Biggs jasper slab.
Below are 2 pictures of the saw as it sits now. Soaked the saw table in white vinegar which removed all the rust and a lot of the paint. Used an abrasive drum in a variable speed drill and ground off the rest of the paint. Gave the table 2 coats of Rustoleum Clean Metal Primer and 2 coats of Rustoleum Harbor Blue top coat. (The Harbor Blue does NOT exactly match the Loretone color but since they powder coat their machines, they can't supply retouch paint.) Attached 1/16" HMWPE sheet to the top of the saw table to provide a low friction, abrasion resistance surface. (Yes, this is the same material used on table saw fences, to line drop chutes in rock handling equipment and as ship bumpers in the new Panama Canal.)
The two solid wheels that were on the saw were not usable. The finer one had a large chunk out of it which made it downright dangerous to use. The coarser wheel was out of balance and out of square. Will keep them to dress saw blades as needed. Replaced the solid wheels with a slightly worn 80 grit Galaxy wheel and bought a variety of belts for the 1 1/2" expando wheel.
The water delivery system was made from an extra cup that I had for our Ameritool Flat Lap. Used JB Weld to glue an extra piece of plastic for the hole and 1/4" copper tubing and valve. Delivery tube extends about 3/8" below the rubber grommets. Cotton webbing ($1 belt from local thrift store) was hot melt glued to the edge over the wheels. The 2 masonite jaws in the vise are shot but I have a sheet of 1/4" HMWPE waiting to be cut to size for the vise.
Machine is now working fine but there are 2 problems left to address and they both have to do with draining the water on the 2 sides of the machine. There is no drain on the saw side and the drain on the wheel side allows the water level to build up to the point that the wheels are in the water before things start to drain. Thinking about just removing the fitting on the wheel side and drilling a hole on the saw side and just putting in corks. When I want to drain the water I'll move the machine over a bucket and pull the cork. If anyone has a better idea, please let me know.
Jerry