Nice find!
Those do look like the original BW's, don't they? Rounded basket fingers and the motors look like 250 watt ver. My FH-1's came with 1505-4 2nd gen baskets and 350 watt magnets. I found 3rd gen 1504-4 baskets (correct for the FH-1) at 8th Street Music.com prior to upgrading to JBL 2226's.
As always, with old Peavey's, disassemble and inspect the mag/basket. Then remove the sponge filter from the magnet vent. If it hasn't already - it will get sucked into the voice coil gap, melt, then turn to gum on the inside of the voice coil former. It can be cleaned off with alcohol.
Edit - further research indicates there may be 3 or more generations of BW magnets.
FYI: all Black Widow magnets are fully compatible with 1st, 2nd and 3rd gen BW baskets. Word of caution: there are several Peavey 4" VC magnets - only BW mags are compatible with BW baskets:
Black Widow flat back - NLA (I have no experience with these - not even sure they exist at this point - info found at Telecaster.com forum)
Black Widow 250 watt, 1.5" vent - NLA Black Widow 350 watt, 2.75" vent - 00010070
Incompatible with Black Widow baskets
Lo Max - 00560420 Low Rider - 00560430 BWX - Neo 00560870 BWX/SPS - 00458900 My barn rig - JBL 2405H, EV DH1A/P. Audio PH-4525, Peavey FH-1/JBL 2226H, Peavey 118 SUB Theater
