Yes, it is the vertical surface of the bed way that the carriage runs on. Number is at the right hand end, so over behind the tailstock.
Before you engage the back gear, you need to disengage the driving dog that locks the large "bull" gear on to the spindle next to the pulleys on the main spindle. It has a small allen-head screw there, holding a small sliding block with one or two gear teeth machined into the end of it. You loosen the screw and slide the block outwards then retighten the screw. Check that now the chuck and spindle can spin without the pulley turning. Then engage the back gear by moving the lever. Then start the motor. When inspecting the lathe, check there are no teeth missing off the gears next to the pulley.
Backlash on the leadscrew is nothing to worry about. Probably just needs the half nuts adjusting so they engage a little tighter. There is a small screw on teh bottom half nut that does this. At worst case, you can buy and fit two new halfnuts. An easy job.
Tumbler reverse lever only changes direction of the leadscrew, for left hand threads. Don't change it while the lathe is running!
Main thing to look out for is wear on the bed ways, usually a few inches in from the headstock end. It can be roughly measured with a good straight edge or steel ruler and feeler gauges.
Edited By Hopper on 24/08/2018 14:00:59