Mike, I'm goning to offer a suggestion. It's in the same spirit as Jim's response below. I can sometimes be a little terse when it come to opinions, so please don't take it wrong.
I think I recall that you (like a lot of us are with our own projects) were worried about having the resources to do this in a reasonable amount of time. And, IIRC, your bargain with the former owner was to get it running and to a show where he could see and hear it running again.
My advice is to do that first. Keep the tank that's painted to match the rest of the tractor. Clean it out as best you can. Clean up the sediment bowl with solvents. Replace the gasket if needs be. Buy clean fuel, keep it clean (as someone said) and service the sediment bowl as it catches any crud left in the existing tank.
Unless the radiator is in danger of breaking loose and falling back into the fan blades, leave it be for now.
Get the tractor running on gas. Do first what you need to do to get it running and fulfill your obligation to the fellow who was so generous in giving it to you.
There's nothing that says you can't take on these other projects later and invite him to come see what you've accomplished. Things like busted bolts, re-plumbing the dual-fuel system . . .
My experience . . .you'll never be done tinkering with an old tractor. Always something to be done. Enjoy the satisfaction of working on it, but get it running first
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