Cory,
Very interesting that the impeller was slipping on the shaft, I never would have guessed this was the cause! That makes sense now because when it stopped draining it just simply didn't pump... I was sitting there watching it and no "snap, clunk or pop" or noise of any kind, which I thought was odd.
It makes sense some of the hoses are gone or going, they are 54 years old after all!
That's really awesome you got it going again without too much trouble! CONGRATS!
Kevin