My biggest concern was the Tri-Leva set-up but that looks to be OK with virtually no detectable wear, so new springs,belts, oilers, replace the odd bolt/grub screw and an internal clean-up ought to suffice.
Not much to go wrong with the tri-leva system as it's so simple though I haven't worked out how it auto disengages the speed when you select another one.

Look after the original white metal headstock bearings as they're no longer available! Instead you have to buy a new hardened spindle & bronze bearings, a very costly exercise! Here's an article on the subject.
http://www.lathes.co.uk/myfordrebuild/www.onepoint6.co.uk/Myford/Spindle_and_Bearings.htm
Looking at the photos on that link yours might have been replaced with bronze already, a closer photo would help.
