I've got an old P-40 in similar shape as yours. I paid a guy 25.00 for it, and it had a good bar and chain. He said it would run, but I had my doubts. I put fresh fuel in it and took it to the woods. Man! That saw was fun to cut with. It is hard to crank cold, though. It seems to have MONSTER compression. I squirt a little gas in the carb when it's cold, and once it fires, it's good to go for as long as you want to run it. When the tank runs out and you re-fill, it will crank back up without the "priming". It sucks alot of saw chips around the recoil screen like a vacuum cleaner. Gotta brush that off often.