This post is about bandsaws in general, but mostly about this particular one, the iron-framed Delta-Rockwell 14. Delta turned out about a billion of these under various brands throughout the mid-20th century, and they can still routinely be had for about $250 or so, making them by a fair margin the most common starter shop equipment for small-time craftspeople and makerspaces on a budget. Unlike most of the other boomer tools you can find cheap on Craigslist, they're safe to use and good enough for serious work (miles beyond, say, the awful little benchtop saws occupying the rest of that price bracket), and if you git gud one can do most of the work of a table saw and scrollsaw, poorly, minimizing the amount of crap you need filling up your limited floorspace. However, the price of getting something functional this cheap is that they generally come poorly cared for and way out of tune. Fixing them isn't difficult, there's just a lot of little parts involved in keeping them working properly and it's easy to miss one, which is presumably the point where people tend to give up and dump them in a garage sale.

Typically at some point in the last 60 years someone's thought to align the wheels, but you never know and without that any other tuning is useless so if your saw keeps acting up it's worth checking. With the blade on and tensioned (a mostly vibes-based measure of tight enough that it isn't easily pulled off course, but not like guitar-string taut where it'll stretch itself out), a straightedge or angle iron should be able to touch the top and bottom rims of both wheels simultaneously. Or just fiddle with it until the blade doesn't wobble when you rotate the wheels. The tilt of the top wheel can be adjusted with the tracking knob on the back, or if they're way out of whack you can unbolt the thing and shim it outwards with a (iirc) 5/8" washer.

Properly aligned, the blade should balance on both tires just behind the gullet (the gaps between the teeth), and stay there when they spin. To keep it aligned when under load there's two sets of guides with a couple guide blocks and a thrust bearing each, one obvious set above the table and one awkward set underneath. Ideally they should all be just barely not touching the blade when you're not cutting anything; the bearings spaced about a credit card's thickness behind the back of the blade and the guides set a bit behind the gullet and about a paper's width away. When the blade is under load it should hit the upper and lower bearings at the same time, and should be prevented from twisting by the guide blocks without being able to cut into them. The blocks are a consumable that gets chewed up quickly, but Olson cool blocks do a good job and are pretty cheap and easy to come by. Less commonly, you'll need to replace the bearings when they get stuck or the face gets damaged such that they won't spin freely anymore.

Bandsaw tables are pretty much universally a joke, the best that can be hoped for here without building your own extension is just to get it to sit square by default. The Deltas have an adjustable stop bolt on the lower rear of the table; aligning the blade and table with an engineer's square, holding it in place with the angle adjustment knobs, and bringing that bolt to the proper height is fiddly work. I don't bother mess with the angle adjustment beyond that, it's neither accurate nor good at staying in place while in use; if I want an angle I just cut a wedge-shaped jig on the table saw. If that (or some other way of making an accurate angle) isn't an option for you you may have to resign yourself to messing with this part a fair bit.

Bandsaws really don't cut squarely the way a table saw does, and the miter slots are at best a vague suggestion, but it's possible to persuade one to cut straight if you go slow, avoid knots, and get the hang of whatever angle the blade wants to deflect at. The latter takes some practice cuts - mark a straight line a half inch or so parallel to the edge of a straight piece of scrap and try to follow it on the bandsaw. Once you've got it staying on the line consistently for a few inches make note of what angle the stock is at, and skew your rip fence to match. The blade is highly susceptible to following the path of least resistance, so it's important to make sure you get your cut right the first time - once it's started to wander off course it's likely to keep following its original cut no matter how many times you try to redo it properly. If you resaw a lot, like I do, it's probably worth keeping an eye out for a saw with a riser block kit - sold separately these cost as much as the saws themselves, and they require different, longer blades, but they'll add 6" to your vertical capacity which is great for cutting veneers and the like, and it's common to see them already installed on saws for little extra cost.

The motor is normally attached to the lower wheel via a drive belt, which may need occasional tensioning or replacement when it starts slipping even when you're not trying to jam an entire log through the saw. Configurations vary a bit so you'll need to measure your particular belt, but most bandsaws are just gravity-tightened; you tension the belt by loosening the bolt securing the motor until it drops down and hangs from the belt, then retighten to its new position.

Every so often things go wrong and a blade gets bent, but bandsaw blades are much more amenable to amateur blacksmithing than, say, a table saw's. Anything you do to change the shape is liable to stretch the metal, warping and hardening it, which you should have some familiarity with compensating for before trying to start your metalworking career with the whirling blade machine. But provided you can handle that and don't mess up the tooth pattern they can be freely hammered, cut, welded, and ground. You can expect to end up with a somewhat wonky blade the first few times you try it, but so long as it isn't so rough it's scraping up the tire or the thrust bearings that usually just translates to a rougher finish and a wider kerf, better in a pinch than no blade.