I don't know much about this loco. Best I can determine is it is an MPC with a single pullmor motor. If you just acquired it, then you should clean and lube the axles and the motor assy.
I just bought a 6-8960 SP U36C with a single pullmor motor in it. It arrived last night. Out of the box it pulled six cars without much problem but it took a lot of power to really get it moving. I was using my MRC Pure Power. After my initial test run to see if it even worked, I disassembled it to clean and lube it. This thing is 40 years old and there is no telling how long it sat up or how long it has been since it was serviced. I used a conductive lube on the pick-up rollers, a light oil on the trailing truck axle bushings, then I took the cover off of the motor, cleaned the brushes and the commutator plate, cleaned the worm and the shaft ends, lubed the gears, worm and axles on the front truck. It pulled 12 cars from 1957 post-war lionel, to MPC, K-Line and Railking without any problems and only took about half throttle to run at a good pace. After a few minutes I took it off the track to check it and clean any excess lube off of it and it wasn't even remotely warm to the touch. Servicing made a big difference.
The e-unit is noisy in my as well and I think that is just the way they are supposed to sound.