Nice, I picked up my old Pioneer the same way, GW wanted $4 for it, I bought it, assuming it was broke. An hour of tinkering and a rubber band later, literally a rubber band not a belt, it plays just fine. You can't replace a needle for $4, so I considered it a deal. My dealer mentioned wanting it and I dont use it, so a trade will probably occur at some point.
I'm super excited about it too, i'm sure with a rag, some pledge and a little elbow grease, itll look fracking awesome. I'm hoping the frequency gauge (if thats what its called) is backlit, because the blue nurabers will look legit as hell. Its just a shame I didnt know any of this about my grandpa until now. Apparently music and photography were his two big hobbies and theyre a couple of my favorites also.