Looks like a very competent vintage unit. Remember back then the Made in Japan Inc. turntables especially the higher up models were designed and built to the best of their industrial abilities. That tone arm of itself if used properly after all these years may be as good as an arm as you may think you need. The drive system is likely rock solid and if its not it would reveal itself upon playback. So changing caps may or may not be needed.
My advice is to clean it up, verify the cartridge adjustments and fire it up. It may very well blow you away. From there you can decide if you wish to make rebuilding changes.
My advice is to clean it up, verify the cartridge adjustments and fire it up. It may very well blow you away. From there you can decide if you wish to make rebuilding changes.