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That chassis looks to be in pretty good shape. It appears to be copper-plated which hopefully kept the rust away. There looks like a piece of electric tape on that red wire that you see there on the right. Someone may have "patched" a few rough wires in there at one time. Those silver cans you see on the left side ( one appears to be leaning? ) are multi-section electrolytic capacitors that usually contain 3 or 4 different values. These can be dismantled and rebuilt in such a way that they appear as original with no repositioning of the wires that go to them. You can also leave them in for looks and just mount the new capacitors somewhere under the chassis, but then it's a matter of repositioning the wires to their new locations in a way that still matches the schematic.
Just like Phil said, if you haven't worked on things like this before, a good start would be to recap an old tube radio. I took this advice myself I first took an interest in rebuilding my Zenith, and indeed it was a good starting point. The circuitry in old tube radios is very similar to what you find in televisions of similar vintage, but on a much smaller scale. Not to mention, there's not the high voltages to worry about. That said, I would imagine your Motorola has a fairly sensible layout under there that hopefully won't be too mind-boggling compared to some sets that were made many years after.
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