Well, sports fans, I dove into the bowels of the Panoram 4C last night, removed the swing lens, bellows, and the mechanism from the camera, cleaned it up, straightened up a bend in the "U" spring and a mashed & bent gear tooth, and put it back together . . . except for the bellows which are shot.
Then, SURPRISE! The darn thing works like a champ! I guess all it needed was a little cleanup to remove rust and dirt from the mechanism and a little straightening of bent parts to get it going. Well, I did have another surprise . . . I didn't have any leftover parts!
After I removed the swing lens & bellows, the tensioning lever, and the shutter release button, I wrestled with the question of how to reach inside to remove the 4 screws the hold the mechanism mountong plate in place. Then I got hit by a B.G.O. (Blinding Glimpse of the Obvious) . . . I had a stubby little screwdriver, about 1 1/2" long, that came with a phonograph cartridge that I had recently bought, and it fit those little screws perfectly. I did see that I had to pull the mechanism out carefully, as the spring to keep tension on the shutter release lever is loose in a hole in the wood at the top of the camera and falls out when you remove the mechanism. Fortunately it droped into my lap, so I didn't lose it.
The winding mechanism is frozen solid and won't turn either way, so I will fix it this evening.
That's where things are at this time.