Picked up this President kit a few weeks ago and I've been having fun running around finding the missing parts. It had no heads, a bunch of missing lug casings and brackets, no bottom rims or bottom tension rods (except on the kick, fortunately), and some missing tone controls.
Currently I'm only missing 2 floor tom leg brackets and several bolts. I've been having trouble finding these bolts; they look a lot like the modern 1/4" ones but have a slightly thicker thread, though the same diameter.
This kit has never had any extra holes drilled anywhere, and all the major original hardware was with it. It's a mahogany kit. The biggest issue is with the wrap, which is clearly seen up close in the pictures. It's got a bit of fading, which I don't mind so much, and some grime and film that I haven't been able to get off. Someone had epoxied one of the floor tom brackets for some reason, and scraping it off revealed a bunch of missing wrap and scarred wrap around where it had been. No new or extended holes, though, phew! Also, a lot of the lug casings have warping in the wrap around them. I'll probably just deal with these issues, as it looks good from a distance anyway.
Next step is to hit the kick edges with a router table. Despite having no bottom heads, all the other drums had good bearing edges. Can't wait to get this one in playing condition!