Merry Christmas @salmonmac & @Vegan! Welcome to the forum, @Vegan. What a wonderful present!
If you have the treadle, then the wheel looks complete except for a drive band. Many things can be used as a drive band, from cotton string to poly bands to pony bead lacing. It is a double drive wheel, so your drive band will go around the whorl and drive wheel twice before tying a flat knot in the band. The mother-of-all should be in the most forward position (closest to the drive wheel) when putting on a new drive band.
Adjust the take up in the flyer by turning the knob at the back of the table.
It appears someone took the time to strip all the lacquer off it, so the wood should be finished to protect it. The leathers on the mother-of-all that hold the bobbin and whorl should be well oiled (or replaced if they are cracked or not pliable).
Make sure the drive wheel spins freely and true. Wax up that axle to help it move easily. Also make sure the knob at the back of the table moves the mother-of-all freely. You can unscrew the knob and apply wax on the screw to help it move. Be careful of the crack on the base of the mother-of-all. You might want to fix that with wood putty before refinishing it.
Oil or wax any joint that moves and begin your journey down the rabbit hole of spinning! Many, many fibers await you in your journey!
Just like spinning with a drop spindle, you can build up twist in your fiber, stop treadling to distribute the twist in the drafted fiber, then treadle your yarn onto the bobbin.
Enjoy your wheel! If you have any questions, feel free to tag me!
