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I see two bumblebee caps that you could probably take out and sell to the guitar amp crowd who like to install old leaky caps in their equipemnt; and, will sometimes pay good money for those old leaky caps. At any rate, I'd replace all of those tubular paper caps before you get serious about using this player.
And, you are correct in that it's not a good idea to play stereo records with one of these old mono cartridges, unless the record is already somewhat worn and you're not concerned about it's condition. You could upgrade the cartridge to a more modern stereo cartridge that's wired for mono. Like it is, it would be good for 78's (especially the post-WWII records), mono LP's, and mono 45's. Mono LP's were phased out around '68 and mono 45's held on until the early '70's.
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