Eddy, congratulations on your new find! That is exactly the same machine my neighbors had when I was a kid in the very early 50's. I would climb to the top of the machine and watch through the glass window as the whole cycle progressed. I loved how the cabinet slightly shaked during spin and I also loved to see the water drops hitting the glass window! The machine was bolted down to a concrete floor, so it was very stable.
I also remember my neighbors had this very old large water boiler, and on wash day they would turn the boiler to max temp and use extremely hot water for whites. It could well have been 180° or even higher! While washing whites, just when the second rinse started they would turn the front handle, the machine stopped, they opened the top door then the drum doors, and would add bluing to the final rinse water (they had these cloth bags where they would place the bluing cubes, and just swirled the bag around a couple of times in the water. I don't recall if rinses were warm or cold.
My neighbors had this machine well into the 70's, and one day it broke down, it could not be repaired and they just replaced it with a horrible semi automatic top loader, probably a wringer. I remember them saying the Launderall washed a lot better than the TL, but then this TL was an absolute basic machine.
I would absolutely love to see your Launderall in action!
Emilio