Just wanted to stop in and add a note of gratitude for all of the knowledge and wisdom (and photos!) shared here.
Over the last couple of years I've gone from owning one Medalist to 6. 5 of them have Onepfoot reel feet, the 1494s have onepfoot drag/ratchet plates, a couple have new onepfoot metal spool latch covers, and I've been able to convert the 1492s and 1494s to LHW thanks to all of the information in this thread. Dan Hill added a round line guard on my first 1494: that's a favorite on my Orvis Superfine Glass 764. The 1492s take turns on my Barclay Synthesis 368.
I've left the 1930s 1495 alone 'other than' removing the (extensive) corrosion and what was left of the paint. One day that'll be a reel on a 6 or 7 weight streamer rig, when I build it.
I delved into the electrolysis rabbit hole with one of the 1494s that looked like it had been left outside and run over a bunch of times by angry elk. The results were not good on the spool at all. That paint might as well have been welded on. In the end I went after it with a bronze brush at low speed on a dremel and the result on the outward facing surface looks better.
I know that some folks don't care for the stripping/polishing bit, particularly on older reels, and that that may a thorny topic. That's ok, I understand the reticence/aversion. At the end of the day, they look better, fish better, and are loved.
Again, thanks from a grateful forum user.