To restore or not?

[Macgyver]

I've been looking at a boring machine in an antique shop in VT for 3 years.  This past weekend I asked the guy running the shop about it, and he said he didn't know much about it, but for $40, he'd be glad to see it go.  So I bought what looks like a Snell adjustable boring machine, I just can't find any others with the same adjustment mechanism, so I'm not exactly sure that it's a Snell (no name anywhere on it).  Also got a great deal on a bunch of other tools that are actually in decent shape; slick, couple chisels, nice adze, a broad axe, and a couple bits for the boring machine, and everything's in pretty good shape.  Guess they just wanted it all gone.

I aligned the vertical posts, and mounted the carriage, and the machine works ok, it's just a bit squeaky and loose.  The hanging clasp is missing, but that seems to be the only major thing wrong with it.  My question is weather or not to restore the boring machine with new wood.  It's got black paint on it, and I'm not sure if that's original anyway.  It would work better with new wood (and certainly look better), but I wasn't sure if that would destroy the value at all.  I'm looking to make it reliably useable for now, but there's always a chance I would sell it down the road.  Anyone have any thoughts?  Also, as I mentioned, it's missing the clasp to "park" the carriage.  Anyone know where I could get a replacement?

Pictures are in my profile, I will work on getting them uploaded on the post.

Thanks in advance!

[Jim_Rogers]

It's a James Swan and Company out of CT. Boring machine.

I may have a latch on hand, I'm not sure, I'll have to check with Tom my partner in the tool business and see if there is one on the extra carriage I bought some time ago.

Jim Rogers

[Brad_bb]

Well to restore or not...
Unlike many antiques that are collected and desired to be in original condition, they are usually ones that are not used.  We are putting boring machines to work, so the value isn't just original condition, but also functionality.  If it were up to me, I'd try to restore the original parts if they can be.  I don't believe the paint on the wood was original, so you can strip the wood, sand/touch up and apply an original type finish.  I'd guess shellac and oil(get more advice on the finish).
If the original wood parts cannot be reused(and made to tighten up), then make the new parts from the same type of wood, and make them a very good reproduction, with an original type finish.  
I would say it's worth more the better functional condition it's in.  The swan isn't worth much more than a few hundred at best in perfect condition so we're not talking a big difference between functionality and original look.

[Raphael]

I agree, try to keep the metal as original as possible but replace the wood as needed.