Wow, now that's an old saw! About 70 years old if my math is right. There are going to be as many opinions on the best saw as there are saws out there. There is a subsection here on the forum that has "reviews" of different saws. You could start there by reviewing that information. You can find it here: http://www.scrollsawvillage.com/forums/forum/49-scroll-saw-reviews/ - Another important factor is to determine what is your "budget" for a new saw? They range significantly in price so what you are willing to spend is an important decision. There have already been lots of discussions here on the forum in the past about people's favorite saws or hated saws - you could probably do a search and see what you can find in that regard as well.
I don't know if anyone on here can give you information/help in fixing the saw that you have. I know I can't. I'm not that mechanically inclined and let hubby do the "fixing" when I have an issue that needs fixed. Plus, I'm a relative newbie to the saw myself (although right at a year now so maybe I can drop the "newbie" tag ) If you don't get much insight/input in this thread its self - (and you might not since it is in the "Introductions" area and many people might not catch you were looking for help/information - you might post a new thread in the General Scroll Sawing subform asking for help/insight in fixing your old saw and for further insight into a good new one to start with. Lots of people like their Dewalt's - despite their yellow color. Other's swear by Excalibur's, Hegner, Hawks and more. There are two new scroll saws that just came out. One is by Jet and the other is a Seyco saw. Seyco is a company in the USA who has sold and serviced Excalibur's for years. At present, new Excaliburs don't exist. You can look for used ones. There are others out that people say are "rebranded" Excaliburs. They have all been discussed recently here on the forum and with a little searching here and with google, you should find some reviews of both the new saws. The last edition of the Scrollsaw Woodworking and Crafts magazine had written reviews on both the new Jet and Seyco saw. (Summer, 2017 Issue 67) http://scrollsawer.com/2017/03/21/scroll-saw-woodworking-crafts-summer-2017-issue-67/ Good luck.