Hours are OK, but are dependent on the distance traveled for the drive train.
An hour meter will continue to run when vehicle stopped and idling so that will indicate the engine wear, but not the running gear.
eg: at 30 mph it takes 1000 hours to cover 30000 miles. But at 60 mph you can cover 60000 miles in 1000 hours, and that's a heck of a lot more wear on the suspension, tires, etc. than the engine. Due to gearing, the engine won't need to turn twice as fast.
Not many hour meters in that era, except maybe on tractors, trucks, etc. Some won't even have an odometer and may lack a speedo too. Very simple instruments, if at all. eg:https://car-from-uk.com/ebay/carphotos/full/ebay147653959768874.jpg
Today, with digital, you get much more info. eg; My tractor keeps track of both engine hours and time moving.
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