This is correct. When one needs work, plan on near total disassembly and take care of all potential problem areas while it's apart.
The price was right and I was looking for a top handle saw. My dad had this one in his garage and wasn't using it. Knowing that I cut a lot more now, he gave it to me. I can see where working on it would be a hard task. The thing runs like a top on meth right now. Found a new chain for it yesterday. The one on it now is a safety chain that has seen better days. I figured I would use the old chain for getting rid of some volunteer trees and other crud before putting the new one on. Took some time and greased up the sprocket and oiled up everything that needed it. I also just discovered that this model has a chain brake. Love that. This thing is going to be nice for limbing and getting rid of the over grown brush.
Brother had one almost identical to yours that he gave me last March. Late 80's 32cc/2 cubic inch eager beaver top handle arborist saw w/ wrap around chain brake & 14" bar/chain.He bought it new in early 90's,quit using it probably 10 years back cause it started leaking fuel.Sat empty in his garage ever since. I tore it all down,cleaned up all the parts,put it back together.Great compression,lots of power in a small package -with fresh fuel was running in 5 pulls.But leaks around fuel line/clamp thingy next to tank.A real PITA to work on,I put it all back together & its sat on the shelf ever since.Would likely be a fairly cheap fix getting the parts,but not sure if that its worth the hassle.Probably just keep it as a reminder of what McCulloch ended up as before going under.....