In the last couple of days, I've pulled the rear gearbox out and started going through it. Found 3 bad bearings and seals and found out that it has surprisingly big gears for the PTO. Wasn't expecting that.
Both brakes had one broken shoe that got repaired on each side for some reason. Not sure what would've caused that. At least they were relined at some point, so I just need to clean those out and put it back together.
The shift rails had lots of rust as I said previously but also the plunger was so wore out that it didn't even have a point anymore to sit on the holes of the rails. Also, both springs were rusted and broken. Couple more things to fix.
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Spacer/4WD selector. Has one bad bearing and looks like two bad seals.
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Rear left side brake, axle and final drive:
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PTO pictures. On this one, a needle bearing gave out and damaged the shaft (2nd) picture. Since the needles ran on the hardened shaft and while I can build the shaft back up, I can't recreate the hardness of it so I may replace this bearing with a bronze bushing instead. Still debating on that.
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One thing I'm liking in this tractor so far is that it pretty much uses just off the shelf parts, like bearings, seals, pins, etc. Nothing proprietary to the manufacturer.