I agree.Ceiling light fixtures were almost always rated for 60 watt maximum bulbs, a lot of them had 100s installed. The wire insulation will be somewhat crispy in the boxes above these fixtures.
By 1978, the aluminum alloy had changed to the type that is in use today, so it is much less a problem than if it was from the 60's.It was common to use aluminum wiring to ranges, stoves, etc. Very rarely ever a problem with it though.
There was also a time right around that era when aluminum wire was used for 15 and 20 amp branch circuits as well. That certainly could be a problem, if it is still intact it's not too difficult to fix.
Agreed. I'm sure there are a few that will need replacement, due to being cracked, or needing GFCI protection - you can take a look. You might wish to change device color anyway.A lot of receptacles were 'back-stabbed' as well. These will burn up under heavy use. Again, if still intact, easy to fix.
Junk.Look at the panel. If it is Zinsco or FPE, my advice is to replace it with something a bit more reliable. These breakers had a nasty tendency to not trip, even when subjected to several hundred amps. Some insurance companies will refuse to cover a house with these panels.
Yup.As stated above, if no one has messed with it much, it's usually in good shape.