Every time I have gone down to Chama I have walked through OM and as far as I can tell it would need boiler work. It has a very old boiler and because of that it would probably need some kind of special inspection done by the FRA. The whole rear wall of the pilot house is gone. They'd have to find a pair of injectors for it. Or use some 2" penberthy's which would work just as well. I don't know what kind of shape the tank is in.
Thanks to the dry climate down there, the wood body has held up remarkably well.
Besides some major boiler work, i'm guessing the whole thing would just have to be gone over and cleaned up and inspected. Simple stuff like tightening loose things and repacking the journals that need to be.
About the valve gear, I don't know. It may need work, it may only need to be timed. It may need nothing done, just some oil. I don't know about the gear sets either. It would all have to be cleaned thoroughly before you could tell.
Kevin Bush