Oh boy. Looks like the original coils there.and original condensors as well. I think it would be a good idea to remove the mag plate and completely refurbish it. The points may be okay to re-use, if they're not pitted, but new coils, wires and condensors are a must.
Believe it or not, it's nothing uncommon to find these old motors in this great of shape. I see it here quite a lot.