gammer you may come out fine IF you do not try to make it NEW.
A lot of play in a 40 year backhoe is NORMAL. Keep it greased well and do not loan it out (let others operate it). If it will start, run and dig dirt that is about all you can expect for a heavy BH like that.
Change the oil and after you decide if you are going to keep it change out the other fluids. Ours had new fluid/filters a couple years before we bought it but had water in it. With use and a quart of Sea Foam two different times the fluid so no longer white. Winter got here before I got to it this year plus I need to install the new shifter boots before I change it out because rain can get in the old ones. I think it had set a lot the year before we bought it.
I had to replace one hose and the metal is showing on many of the others but I finally chilled and followed the advice to make it beg for things like hoses and tires.
I have one bucket ram that was broken of at the FEL bucket. Looks like they hit something with speed but the welder did an awesome job on the ram. The ends are welded on OEM by the way.
Do not deal with many PM issues (other than engine oil/coolant) UNTIL after you make the buckets shine from use. By then you will have fallen in love with it and see it for what it can do for you instead of focusing on what is not perfect about it.
Keep the diesel tank, radiator, and fluids full and all 100 grease points well geased. :thumbsup:By geasing it after each use then putting it through its range of motion will help keep water from pooling in the pins/bushings. It it is like ours you may use many tubes of grease the first time to make it show.
Will it start, run and dig?