Well I tried it and it works great, excellent picture tho I only had it hooked up to a little 9" Sony using the RF cable. I tried it on a 1949 Airline first but it wouldn't sync up at all.
It has Digital Vu meters on the front, switchable off if you don't want to see them. It seems to have lots of whistles and bells, it even has an AC outlet on the back to plug the TV into.
One problem, the eject is sluggish, I had to try it twice to get the tape out, seems like all VCR's have that problem as the get old. Maybe a bad belt?
I'll have to pop the top and clean it out, I'll check that cap too, maybe just replace it for good measure.