Andy,
Nice looking 32 Telex!
Some heat in the top resistors is normal. Not sure about the lower circuit board and electrolytic caps.
If you can put your finger on the resistors briefly I wouldnt worry about it. On 33's there is a heat sync to absorb some of the heat of the top resistors.
Some may not agree with this, but I would remove the front half of the insulator board to allow more air cooling in the dial unit. The motor fan will provide this.
See pics. First is of a nice UCC-6 with heat sync noted. Second pic is of a spare board with some normal heat damage. Third pic is my suggested insulator removal fix. Last pic is of a 32 Telex with no insulator board which most 32 Telex machines look like.
The advice is worth what you paid for it.
73,
Wayne
KB1FDW