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Ben,
I had a 48-482 that I restored and used on my desk at work where reception is poor (especially AM). I had no problems pulling in FM stations and could pull in a lot of AM stations as well. The audio quality of FM isn't as good as some later FM sets (I used to have a Grundig on my desk that had great audio) but it's OK.
The FM-1000 detector can be a little finicky. Follow the alignment instructions carefully and you will be fine. I do remember after using the set for quite a while the FM quit. It turned out 47k resistor in the plate supply for the FM-1000 failed. I think this was a 1/2 watt unit originally and is dissipating at least that much. I replaced it with a 1 watt unit and didn't have a problem afterward.
There are about 30 paper and electrolytic capacitors in that radio so there will be a bit of work to get them all replaced. Some are also a bit difficult to get at. I eventually took mine off of my desk just to get a little more room. It is a big set.
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Sean - WØKPX
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