I want to thank everyone that helped me with info on this project. The ZW turned out really well after replacing one of the inner arms, the spring, 2 plastic collars, the rollers, the one outer arm, both light bulbs, both the red and green covers and all 4 common binding posts. And of course a new cord. Thankfully the coils and wiring were all fine. I was originally going to sell this but think I will just keep it since I have been contemplating building a small post war layout and this is the perfect transformer for that. The case really shined up nicely, amazing what a little elbow grease will do. Here are some shots of the finished product. I feel badly that I did not take a 'before' picture, it looked pretty forlorn.
Again, thanks to all who provided some excellent information and I also want to thank Jeff at the Train Tender for all the parts at reasonable prices!!