What to do with it...
I've talked to my housemates, and none of them seem to object to selling it, but we need to check with our neighbors to make sure it doesn't belong to them. I've already received a few e-mails from people who wanted to buy it, so if I go that route I suppose it would be fairest to offer it first-come, first served, I don't really feel like starting a bidding war. I would try to see what works on it, but I'm not sure what the circumstances for its' consignment to our basement were (It's not very rusty, but maybe the transmission locked up or something.) If people have suggestions on what I should be looking for/trying I'll listen, I do have a fair bit of electrical/electronics experience and have restored some vintage small appliances before (Such as a 1950s Sunbeam Mixmaster that I still use in my kitchen).
Also, I agree on the "clothes being lightly stirred" not being that exciting. Not only is it no fun to watch, it doesn't do much for cleaning clothes. The washing machine my family had when I was a kid was a Whirlpool "Design 2000" Direct Drive TL from the mid 80s with the Super Surgilator agitator, which did a good enough job of rotating the clothes when it was new and not overloaded, but over the years the plastic fins started breaking off (The top piece didn't like to stay on the bottom piece, and would go bashing around inside the machine on the spin cycle). That machine's transmission seized up around 2005-2006, and my father complained bitterly about it only being able to tolerate about 20 years of near-daily use and being overloaded with greasy work clothing. Amusingly enough he went on a tirade about Whirlpool being cheap junk, and replaced the machine... with a "Kenmore" DD TL. I thought that 20 years of abuse was a fine lifetime for a washing machine, and never said a word about the "SHIP FROM: Whirlpool Corporation, Clyde OH" sticker on the box. The Kenmore has a "Dual Action" agitator that's attached with a bolt and does a fine job of rotating clothes unless overloaded with heavy items like jeans.