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I also have a '49 M that I like very much. It doesn't have live pto, 9-speed tranny, live hydraulics, or power steering, but I wish it did! M&W was the premier supplier of after-market upgrades for those old Farmalls. They offered kits and parts to do about anyting that could be done to them. They don't make the stuff anymore, so you're going to have to search tractor boneyards, ebay, or the auctions on this and similar sites to find such units. Live hydraulics was accomplished by adding a hydrualic pump in front of the distributor. The "Lift-All" or belly pump hydraulic unit could be used as the reservoir. It worked pretty well. The pump was similar, but not the same as what IH used in the Super H-M series. Major drawback is the tendency for the timing gears to break under heavy load. The "live" pto wasn't truly live. It mounted on the left pinion shaft where it comes out for the brake assembly. It was simply a clutch that disconnnected the left side of the differential and allowed the tractor's forward motion to stop while allowing the pto to keep turning. You can't shift gears while the unit is allowing the pto to turn, as the transmission gears are still turning. A more versatile system than the original pto drive, but the clutch requires close attention to adjustment, parts usually have to be made for it, and it should never be operated when the tractor is under heavy tillage load. The 9-speed unit doubled the speeds of gears 1-4 and reverse. They made the M much more versatile by offering speeds greater than the stock 4th gear and yet slower than 5th gear. This unit also doubled the speed of the pto shaft AND the lift-all pump. Again, new parts aren't to be had. Installing a live hydraulic pump is pretty straight-forward, and likely not going to open up many additional problems. Adding the "live" pto clutch can be a headache if you start replacing any and all seals that are likely leaking a bit by now. Even a bigger challenge if you need to replace a bearing. The 9-speed unit requires considerable transmission dis-assembly and gear replacement.
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