I have at least one example of every Lionel GG1 in my collection. For the most part they are smooth, quiet and powerful pullers.
Some 'tinkering' may be required and I've had to do that on the dual motored postwar ones as well as the more modern versions.
I particularly like the semi scale ones with RS and command control. The JLC scale versions are in a class by themselves.
As mentioned the wobbly pilot trucks can be corrected. I've not had a problem with the nylon geared trucks.
The Lionel G has probably had more articles written about it than any other Lionel engine.