Over the weekend, I picked up a 1940 Silvertone console for $20. Model 5501, to be exact. Haven't had a chance to fully inspect it, but the cabinet has only minor scratches on the lid. All the components appear to be intact, as are the tubes. Naturally, the power cord suffers from dry rot, so that's gotta go. A closer look revealed that the tuning wire will need to be replaced. For reference purposes, here's an identical console.
http://www.radiomuseum.org/r/sears_roeb_r5501.html
The owners manual mentions the availability of an FM/TV audio converter. Doesn't appear that the original owner got around to installing one. I find it interesting that manufacturers were already pushing the new technology, even though their benefits weren't fully realized for several years.