Hi, I bought my first EM a month or so ago and have thoroughly enjoyed getting it working again, so much so that I've just bought a second machine. What I learnt is that an EM machine is a lot easier to get going than one with electronics in it because you can physically see everything that is going on - it's all hard wired and is nothing more than relays and switches. Also these games are much simpler than electronic ones. The most complex bits are the score motor that has lots of switches attached to it that trigger at different times as the various wheels rotate around, and then the stepper counter units.
If you buy a machine make sure it looks complete, anything that has bits missing could be a nightmare to resolve, also ensure you can get hold of the schematic from IPDB or elsewhere as this is vital to working out when someting's not functioning. The one I bought has no schematic so I had to use one off a similar machine, and amazingly it worked.
Problems I had to solve to get mine going were:
1. Missing relay on one of score reels - easy to find a replacement
2. Credit reel assembled the wrong way round
3. Loose wires that needed to be reconnected to the right points (schematic to the rescue)
4. Blown flipper coils & needed new flipper plunger assemblies - Andy at Pinball Mania helped me select the right one from his stock.
5. A DC flipper coil complete with diodes running on A/C (yep!) replaced with correct one.
6. broken leaf on a relay switch
7. Contacts needed cleaning on a few of the score motor relay switches
8. playfield switches needed adjusting to work
the rest was the usual clean and re-rubber etc.
I play it regularly now and it's great fun - also I read that the more you use them, the better they are as the relay switches and moving parts are kept in working condition.
The clays guide is invaluable.
http://www.pinrepair.com/em/index.htm
Someone on here also pointed me at this which is an absolutely brilliant thread - complete with animated videos of how all aspects of EM machines work.
https://pinside.com/pinball/forum/topic/em-pinball-circuits-basics-to-not-so-basic