Although some of the information presented here will be specific to Mills High Tops, a lot of it will apply to antique slot machines made by Jennings, Watling or other manufacturers, or to different models of Mills machines like the half-tops, goosenecks and others.
The machine is a Mills High Top 777 Bell and dates to roughly 1949-1952.
This site chronicles my efforts at resurrecting, repairing and restoring an antique slot machine.