I have a similar 'Teardrop', although it came with some interesting modifications... Note that I bought it anyway.
Steel tonearm, for those heavy metal disks. Chunk of wood integrated into cartridge mount, easily pre-dating Grado by four decades.
A few strategic lightening holes, lowering tracking force down to a sedate 16 oz. or so...
Severe abrasion on front edge of "tonearm" makes me think someone dragged it around behind a station wagon at some point.
And perhaps "tone-leg" would be a better match for its heft.