Fixing Up a 1973 Frigidaire SXS
I would not remove the plastic breaker strips, but would just sand and paint or just prime the rusty areas. One problem you might have when you repaint the area where the gasket contacts the body when you repaint is that the paint if not the proper paint and if it does not cure properly it will stick to and destroy the door seals. For this reason I might just sand and prime and cover these areas with strips of heavy foil tape.
Replacing the compressor is possible and you can install a non-rotary R134a compressor and use R134A refrigerant. You will likely lose a little cooling performance. This will not be easy and if the ref has already had one compressor it is much more likely to have future refrigeration system problems.
Most new compressors are NOT made in China [ most come from Brazil, Japan, Singapore etc ] and new refrigerators and compressors are far more reliable than ever if you stay away from overly contemplated models. We see far fewer bad compressors than ever, I work on refrigerators ever day and probably don't see two bad compressors a year.
Big question Is This Refrigerator worth fixing, when you consider that it uses 3 to 4 times more power than a new refrigerator, and it will not keep food as long or as well as newer models. There is a reason that so few 60s and 70s frost-free refs have survived. In many categories older appliances are worth saving and using, such as Dryers, Some automatic Washers, Dishwashers, electric ranges, many smaller appliances such as vacuum cleaners, but everything older is not always practical to keep forever.
