Thanks for all the comments. To be honest, this is a cheap old hybrid that has been passed around the family for a few different riders. It got a couple of teenagers through their growth spurt years, and now has studded tires for my spouse's gritty commute. I'd be happy if:

1. When the lever is released, there's enough clearance so the rim doesn't rub, even under minor variations in centering, which seems to be a fact of life with v-brakes. I don't want to re-adjust these brakes every week.

2. The lever can be squeezed to the point where it brakes with full force, before the lever touches the hand grip.

Meanwhile, I noticed that the noodle itself is kinked, to the point where the cable doesn't run through it very well, so some new noodles are on the way.