Ralph,
As I presume you can see, I develop sentimental attachments to things of mine at times that others don't. Cars, appliances, houses, etc. I'm more or less the only one in my family who does... I wanted to put our '61 Kenmore into the basement like so many of our neighbors did, but my Mom, the anti-pack rat, would not hear of that for any reason. Because of that experience, I learned enough to try to control the outcome of what happened to the '74, and it worked.
Our machine needed some pricey repairs while we had it. First, did yours have a sticky timer that was hard to turn? This was a very common problem in the early 70s quick disconnect timers. Ours was bad, bad enough that it would cause the screw-on timer knob to strip and break apart. I think I bought three replacements, first one in probably 1978 or so. Sears revised these knobs to be more meaty in 1979, but by this time the timers were much smoother. The revision was used only on new production and required a revised pointer.
Next, our snubber was loud - it was very rubbery sounding, a sound which I am accustomed to today. The turbulence caused by the Penta-Vane agitator didn't help matters. I changed the pad and spring, only to find out that I could have scraped the glaze off the old pad and it would have made the sound go away. We had to change the spring back then due to a redesign in the pad. These were not high-dollar items, happily.
Then in Feb. 1981, the basket drive failed due to a backed-out set screw which in turn ruins the spin tube and disables the spin. This was going to be a $250 repair. Parents balked at that idea naturally, but I got another case of "what's going to happen to the old one?" and devised a plan to fix the machine for less, and within a cost window which would keep it in service. I think we spent about $75 including the DIY manual. That was a preview of things to come for sure. But, it fixed the machine, and Mom cancelled the 1981 seventy-series which was on order.
All was great until mid 1982 when the always sticky timer locked up while I was at school. My Dad got it unjammed, but not before the cam follower that controls wash rinse temps got stuck or broke in the rinse position, thus we only had cold or warm wash, and had to switch the knob to cold for a cold rinse. We used the machine that way for months.
In December I bought a $50-some new timer out of my own money to ensure that we delivered a properly working washer to my friends that next January. The new timer was much less sticky and more smooth operating than the original.
I was told that not much of anything was needed in the next 16 years. From what I've heard from several people, these basket drive failures were very common for a while, and the timer issues as well. BendixMark mentions that in his Kenmore Christmas thread. Seems like lousy manufacturing on both the timer and the basket drive.
As to your machine, yes, the belt replacement is an involved job for a someone who hasn't done it before. These skinny belts are easier to change than the standard one if you know how to handle a short cut with the basket drive yoke but even then there are quite a few nuts and bolts to remove, etc.
The cone shape item is the lint filter, and these too were common to replace from what I am told. I have seen many machines from this era which have received replacement filters. The saucer-like disk is the factory replacement. It is supposedly nearly clog proof and is an adaptation of an earlier filter used in WPs.
As I've written it here, we had our fair share of issues with our 1974 machine, but we did have an active family with two kids, and its two priciest failures were due to common issues of the time. What that machine taught me as a result was priceless, especially as it relates to my restorations to this day.
G