Have you tried cleaning and servicing the motor? It could be smoking due to a build up of excess oil from being over oiled at some point or from burning off loads of dirt and dust on the inside. You may not even need a new motor. Clean the commutator, the brushes, bearings, etc...
BUT before going even that far, see if you can find a replacement for the broken gear. No sense wasting time on repairing or replacing the motor if you can't get the gear.
FWIW, the motor on this machine will turn the same direction as the handwheel- counterclockwise. Think about it. They are connected by a belt, so whatever direction the motor goes, so does the handwheel and vice versa.
Thanks! I probably should have done that before taking it apart, huh? It wasn't actually all that complicated, so I'll be able to hook it back up and my boyfriend says he'll definitely be able to tell if it's electrical smoke or not.
Any idea what the gear is called? I don't think it's an actual gear, it's the piece behind the control dial that changes the stitch type. I'm having trouble finding anything that looks like it on any of the sewing machine parts websites.
The only hits I seem to get on Google for the model are to craftster, and to a Yahoo answer about when it was made.