I usually look for mangled chunks of bearing cage, bearings with missing balls, etc.
If the bearings are not rough, they will probably be okay. New heavy duty bearings will cost you $50-$100 depending on the size and number of balls. If the cost does not put you off, it will not hurt anything to change out the 60 year old ball bearings. Replacing them later is twice as much work as replacing them now.
The one bearing that I would replace is the input shaft pilot bearing. It seems the most likely to fail.
I have never heard of swapping sides with the bull gears. It sounds like it might just work. You could always try it and let us know what happens. Myself, I like to keep everything in its original place.
I hate it when things go wrong with my H, but it is surely a pleaure to work on.
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