I am inclined to agree with you, regards the age of the machine... BUT

There are too many "hang on a minute" moments, firstly they're is no ratchet for the turret I have taken plenty of pics and I will upload them as soon as they transferred from the camera.
The two bearings for the turret are ball races, as per later versions if I recall correctly, but the friction surface upon which it rotates, looks to me like bakelite

The Brake is as you say, solenoid actuated lever with a cork, and it looks like both solenoid & cork are buggered.

The powerfeed is I believe just the motor, I have had a look in the control box and everything in there looks OK, biggest pot I have ever seen, didn't know they made that big

Anyway piccies coming