Hi Phil. Great meeting you on Sat.. It sounds like you're really in for it with this machine. One good thing about hanging out with a bunch of modifiers, there's always parts laying around. It sounds like those guides may be pitted/rusted and and if so, you should try to get away from reusing them.
Someone around here may have some spares you could get. I'd advise you to send that headblock to John French to have it checked out. You can probably save a little money by cleaning it up the best you can (the switch has silver contacts so it should be retrievable) and replacing or providing decent guides to John. If you want some info about heads and such, there's a guide in a sticky above the General forum with illustrations of what to look for with worn heads. John will
visually align the heads which means that he can do pretty much everything except the adjustments like azimuth which are done with a scope on your output.
The bottom guides are actually spring loaded so you should be able to push them in and rotate them to an
unmolested spot. You need to use a magnifier and a strong light to examine all of these spots where the tape makes contact. Just one little spur could really do a number on every tape you run across it. Pits are really just as bad since they collect debris like a rock in a river and an
inie slowly becomes an
outie.
One of the bottom lines with this and many other machines is going to be the deck plate. After you pull of the headblock, and before you bother doing anything else, put a straight edge across the top to be sure that it's flat (a few times across the width and height should do). It's made of pretty heavy alloy but if it's been abused to the point that it's bent at all, it's a write off.
Everything attaches to that piece and must be carefully aligned referenced to that deck plate.
Here's John French's site;
http://jrfmagnetics.com/