After reading a whole lot on the electrical forum about using a post-war ZW with modern trains, I went ahead and made all of the modifications recommended.
I needed someplace to put the 8 amp circuit breakers and I wanted to monitor the voltage output on the B & C taps. I used the B tap running thru a bridge rectifier for LED lighting, and the C tap for AC accessories and lighting.
I picked up a wooden box at Michaels craft store, installed the circuit breakers, added two LED panel meters, one AC one DC, one toggle switch for LED power, and one on-off-on switch to toggle between the B and C taps on the AC side.
As for the ZW itself, I replaced the rollers, installed a new 15 amp internal circuit breaker, installed 2 zener diodes and it had a new power cord when I got it.
Also I put 4 TVSes, one each on the box output.
Thanks to all the guys on this forum for all the great information.
Greg