[Herald1360]

You may well be lucky there- the most likely problem components (some of the capacitors) look like they're the well respected Mullard (Philips) "mustards" (so called because of their colour). They get that respect because they have proven to be extremely reliable compared to the older wax and paper type often found in vintage electronics.

That rusty(?) wheel looks like a drive wheel with rubber tyred idlers on either side. If so it should respond to a cleanup though stopping new rust could be a problem if any plating has gone. Others here will probably actually know the deck- I'm just making general comments........