Originally Posted by steelbikeguy

If there aren't any cracks, then I'd say that they can be used. Wouldn't hurt to keep an eye on them, though.

My Raleigh International came with AVA tubular rims, and they had this sort of bulge when the bike was new and unridden. It used washers under the spoke nipples to help spread out the load. If you don't have them, nipple washers might give you more confidence in the rims.

Steve in Peoria

Originally Posted by repechage

My take-
50 years ago- new rim and at least new drive side spokes, complete new nipple set.

today… there is at least one broken spoke, yes? Maybe more torn up, chewed up spokes from the chain?

one thought was new drive side spokes, observing first if the spoke length of the current drive side spokes are good, make notations on what the average length is now.
I would slowly unwind the wheel’s spokes, keep the sides segregated. Drive side are usually 1mm shorter on a 120mm wheel.
with the rim empty, mark the distortion spoke hole to keep track.
push the rim locally back into shape.

Rebuild with that overstressed side to the non drive side- the tension is much lower.
this way your chances of it providing good service for a long time are greatly increased.

Originally Posted by SurferRosa

If no cracks ... how many spokes are missing? If it's just a couple, replace them and see how true you can get the wheel (laterally and vertically). Smooth and quiet riding and braking are the final test.