Yes. those are good hubs if you are into classic and vintage stuff. It is Shimano off of a Schwinn. Much better than the Normady hubs, in my opinion. As long as the cup and cone are good, these are good hubs. Since you will be take the spokes off of it, it is a great opportunity to polish the hub. I went to Harbor Freight to get the polishing pad and aluminum polish compound. You can also get it at a hardware store. You don't necessarily have to polish it, You could use maroon Scotchbrite followed by grey Scotchbrite to give it more of a brushed finish. No polishing wheel required.

Those tabs on either side of the axle are unique to Schwinn. I have grown to like them compared to other forms of front wheel retention.

Is that bright red grease from the hub. It looks like it. Good sign.

Is that a 4 cross lacing pattern?