I think the flywheel may be a drive pulley for a leather belt to run implements...this was before PTO's !! Not sure about an old Deere though....Whitetop...water heated under pressure beyond 212F creates steam that is useable...as long as it remains under pressure it can be controlled and used....when it's not under pressure it boils at 212 F...boiling point goes up as pressure goes up.....when you take 250 degree water under pressure and realease the pressure thtu a break in the boiler...ALL the water turns to steam NOW with bomb-like results. Imagine piloting a steam engine back then with that huge boiler in front of you...there were no ooops when it came to low water level !
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Don't mess with old farts - age and treachery will always overcome youth and skill! Bullshit and brilliance only come with age and experience.