You've got a great old furnace there and, despite what you think, it's probably as efficient today as it was when it was new - 80% combustion efficiency and 65% at the registers. Change the filter regularly, but don't mess with it otherwise. If you want to improve efficiency of the system, encapsulate the asbestos duct tape and install much better duct insulation. The code only requires R-8, but you can easily double that. If you were to replace this furnace with a modern 96% efficient one, your monthly heating costs would go down, but I doubt that the overall savings would ever make up for the cost of the furnace.
source https://www.inspectorsjournal.com/topic/18995-maintaining-a-vintage-1950s-1960s-holland-forced-air-gas-furnace/?do=findComment&comment=173540
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