Some unfortunate news on the floppy drive... in the process of determining what was wrong with it, I figured the eject motor was stuck. The gears on it weren't moving at all. Anyway, after some fiddling around with that I tried testing the drive again and something on it burnt out. Not a lot of smoke, but definitely visible :O

So it looks like I'm gonna go back to my Plan A which was just simply locating a new drive. No biggie. The computer still works great, I even successfully recapped some of it last night. There's nothing quite like seeing a Macintosh board with new tantalums on it!