Hello, Longwalk, & welcome to the Club Forum pages. I think you'll like it here. Lots of good guys. If you've also just joined the NAFC, welcome to the Club as well.
Back-in-the-day, Lew's was known as an innovator with reels, & their products were considered top-of-the-line. They were one of the first to increase retrieve speeds. They also did extensive research with spool shapes, to try to make the reels more backlash-free. Their most famous feature used to be the "V" spool. That, & the unique shape of the reel (it had an ergonomic shape before it was cool to have one), made them instantly recognizable to anyone familiar with fishing gear.
As far as restoration & parts, you can get a schematic for Lew's reels here:
Lew's reels, also made spinning reels, which, I think, were also considered to be top-of-the-line. As far as I know, they were still making reels well into the '90s. Browning bought them out right around the time they bought Zebco, then somebody bought out Browning... it was a mess. The current owner of Zebco, W C Bradley, has a site where you can get contact information regarding Lew's products:
Hope I helped you. Again, welcome to the Forums (&if it applies, to the Club, too). Let us know how you do fishing with Grandpa's reel.
If I'm not fishing, I'm thinking about it. Keep the line fresh, the hooks sharp, and have fun fishing. God bless you. -Sonny, Life Member since 2002