Old Muntz TV for sale Locally to me, Should I pick it up?

[Tube TV]

Yes, looking forward to seeing a schematic!
I would disconnect all connection off the 5U4 that were suppling and voltages and see if it was arcing after that.
Beyond that I would avoid any more power ups with that much load put on the transformer otherwise it's going to cook out a winding in short order, if that is not already a issue.
Look for defective 5U4 tube socket, also a filter choke with a short to chassis. I can't imagine the 5 volt cap would not cause that much of a problem.
As someone else mention the focus, check that the focus control is not shorting to chassis.
What is the current draw on the input of the transformer with all the tubes out?