I also have a 532 and, now that I have the knotters straightened out it is a great baler. (One knotter was broken when I bought it, but new parts were included). Ford knotters are much easier to work on than John Deere or NH - You can disassemble, repair and reassemble in the field in under 40 minutes.
One place to check carefully is the flywheel hub, the part which mounts onto the splined input shaft to the gearbox. These are prone to cracking and breaking, especially on the long-tongue version with a center carrier on the pto shaft. Replacement hubs are very expensive, unless you locate someone parting one out.
Pick up teeth from CNH also tend to be very expensive. Mine has the optional individual rubber mounted teeth and 6 bars of teeth. CNH gets $16 and change EACH!! Shoup has identical ones at around $3. Also the flywheel slip clutch discs and the pto slip clutch discs are very expensive from CNH. If I remember correctly, the larger flywheel slip clutch discs were in excess of $75 each (takes 2) and that was 3 or 4 years ago. I found an alternate source from this forum. Message should be in the archives.
Same for drive belts. If I remember correctly the long pick-up drive belt was in excess of $45 from CNH, and around $7-8 from a local bearing/power transmission distributor. His computer had the Ford P/Ns in it with cross refs to Gates and others. Also, he correctly identified the Ford P/Ns as Long Mfg P/Ns - Long built the balers for Ford.
If you buy the baler, email me and I will send you info that I have collected on alternative parts sources.