I'm guessing 90% is a problem with the meter ... they were never great waterproofed ... nor was that start panel which requires a key switch change every 20 years.
Often we see mist inside the face. but if we had a great way to replace with a nice cheap compatible meter ... i'm interested. I'm thinking the meter is a once every 30 year maintenance item. we see a lot of meters on consignment ... just getting the one that works with the 2gm is the question.
on 505 it will start running at zero and after warming up a bit ... say a half hour or so of running ... it will come close to registering 2000 but not really up to the action a new meter gives.
would love to see if this one works [link to current ebay listing]
[zoom in on the back of the meter to see the adjustable teeth settings. I screwed one of these meters up by not pushing the adjustment in to change it ... had to epoxy the setting to lock it. but that was on another motor ]