I found an old Fleischman 1306 at a thrift store and fixed it up but it's still smoking and not working properly.
I took the whole thing apart to clean and lube all the moving parts. Everything spins nicely. Also cleaned the commutator and brushes. Everything looks almost brand new and shiny inside. It does run but only very slowly at 12v and the motor starts smoking after a few seconds. I even ran the motor without the wheels connected just using the motors contacts but it still starts smoking so I don't think it's just too much load on the motor. I also replaced the old capacitor that was on the motor which seemed to help a little.
Anyone have any ideas what else I can try or is the motor just cooked?
Update: just measured some stuff and it's pulling about 1.7 amps at 12v which matches up with the ~7 ohm I'm measuring at the points directly. Seems high to me since my controller says it's rated for only 0.5A but I have no idea what the resistance is supposed to be.