Sorry for the delay
Yes, i can restore an electric stove. I can do anything from a freshen up, to a full rewire, restoration.
The carbon rod thermostat is a very crude device. Not very accurate. It will generally get you to your set point, but will require adjustments throughout baking. It's definitely better than nothing, but not accurate like a traditional tstat.
The insulation can be had on eBay. You can buy a 25 foot roll for about $80. Just use the keywords ceramic, insulation, etc. the seller is zoro tools.