I've repaired a few ZW's, the one I'm working on right now has been stored in a really damp environment, but appears to have had little use in its life. Repair what's needed, don't mess with what's not. I've never come across a ZW, even with all original wiring, that needed any wiring replacement besides a new line cord. If the cloth covered wiring is still intact and in decent shape, leave it.
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