Sounds like it. I have the same worn out thrust button on my 71, so I'll have to replace mine one day. Other than that I know for fact my pto is good. You can buy the part separately from a pto rebuild kit. I dug up a thread you might read. Hopefully until then someone can offer better help and know how. I found a ton of info, starts to jam up my head.
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IH CUB CADET 1450, 72, 86, 1211, IH #2 CART, IH 56" SNOW BLADE, COLLECTING CUB CADET ENGINES
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