Most Nakamichi decks are worth fixing if you want sound that is, if not more accurate, at least more pleasant than CDs. My best advice is not to try and fix it yourself but have a Nak expert go through it and make any necessary repairs. It can actually sound better than new. I recommend email@example.com. He has worked on my three decks and all sound great. He has the tools and experience you need. Oh, and yes, many people still listen to cassettes but be prepared to be critized if you admit it on this forum.
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