I am a serious model train collector/operator for about 20 years now and have well over 500 engines and rolling stock.

Where are you located, Rap? U.S? Big city? Most local hobby shops can test this for you. New replacement 3-rail track is fairly inexpensive and will give better conductivity. If you have a voltmeter, you can test the output on the transformer. Do not use it if the cord is frayed.

Many local hobby shops are Lionel service stations.