I wondered about seal integrity and other things when I first lit it- after all, rubber o-rings aren't expected to live 40 years or more. It seems that if there are any seals or o-rings that they are still intact because it runs fine. I'm running it on "white gas" which I'm pretty certain is just naptha with a higher price tag. It's not in a pressurized bottle or anything- it came in a plastic bottle with a child proof cap, so there's really nothing to check.
I think most pressurized gas cylinders have to be checked, but in most cases around here they are either checked when refilled like the propane tank for my barbeque, or they are recycled like the smaller propane tanks for my dual burner Coleman stove or blowtorch.
Def
I think you can get rebuild parts for it, might want to do that anyway if you are going to use it. Wouldn't want a fireball on your hand in the middle of nowhere.