I do see that, but my concern is twofold. One is that many people seem to assume that if it works then there is no chance of getting a shock. This is absolutely false. Second is that the mains lead is not all that matters. There are other things inside the unit that could deteriorate or fail - for example insulation can degrade and allow mains across to the secondary (ie. the track) or to the case (if it's metal), or perhaps a nut works loose and falls inconveniently into a place it can bridge the mains across. Or, god forbid, a previous owner has been tinkering and all bets are off. If you are changing the lead you should be able to visually check the interior for some of these other problems. But some faults may be hidden and (unless you have an insulation tester to hand and know what to do with it) getting a proper insulation test done by an electrician is really a must.
Mike- In my many decades of operating Lionel and American Flyer, I never saw or heard of such a failure. I did see and owned a couple that simply fizzled, emitted a slight odor and quit working. Both manufacturers built very stout and safe equipment. Including circuit breakers which were on the output side. They were intended for rough use, by children. Boxcab E50
No different then what could happen to something that you purchase today. Just because it is "New" does not mean that is "Good."
