Just going from the pictures of the ways and bevel gears in the knee, I'd say that mechanically, that machine looks cherry. Just a good clean up and adjustment, and start making chips. I'd leave the idea of scraping that machine well alone unless you are equipped and skilled to really evaluate the condition. You're likely to do more harm than good trying to learn as you go considering what you're starting with. If you really must scrape something, make yourself a nice straight edge. That way, the angels won't cry if it doesn't turn out like you thought it would.