William-
First of all, welcome to the forum...
If you're referring to the battery hold-down when you say "battery clamp", then it sounds like your battery may be in the tractor backwards. The off-center posts should be closer to the rear of the tractor, not the front.
The dash reads "lighter" because there was an optional cigarette lighter that was available at the time.
Yes, the steering slop can be adjusted out. Please read the FAQ (both of them) at the top of the page.
Yes, there are brakes on your tractor. That pedal is a combo clutch/brake pedal. It operates BOTH functions.
At this point you really should try to obtain both a service and operators manual for your tractor. They can be purchased reasonably from some of the sponsors above. It's not that we don't like to answer your questions, but the manuals are a WEALTH of information, and you're going to need them if you really plan to "restore" this tractor.
Jim Raleigh-
Welcome to the forum also!
You mention that you are going to "restore" your Original, but you also want to replace the hardware.
If you're looking for a good working restoration and want fresh hardware that's easy to install/remove, then feel free to replace all of the hardware with whatever "plated" hardware they sell at your local hardware store.
But.... (and I'm interjecting my opinion here)
If you're truly going to "restore" (in your words) this tractor, then you probably want to keep (and clean up) the original <FONT COLOR="ff0000">I</FONT><FONT COLOR="000000">H</FONT> hardware which will have the <FONT COLOR="ff0000">I</FONT><FONT COLOR="000000">H</FONT> on the bolt-heads. That's really the only way to get a "correct" restoration.
I have "redone" tractors that have needed replacement hardware due to rust and wear. I usually either buy some good <FONT COLOR="ff0000">I</FONT><FONT COLOR="000000">H</FONT> hardware from a forum-sponsor or find a "parts" tractor that I can keep in the weeds to rob stuff off while I'm restoring the first tractor.