Hi Everyone,
First I want to thank you all for your helpful responses.
Let me update you on what I've done with the stock....
The stock was dated 1991, so it wasn't SUPER old, but still pretty old for film. I took a can into a bag and cut off a strip in order to check if the perforations matched those of modern stocks. The perfs lined up perfectly with some Kodak film that I had lying around. And, from what I could see, the stock seemed to be in OK shape - it wasn't falling apart or cracking in my hands and the emulsion wasn't just flaking off - which I feared it might.
I checked around in New York to find a good lab that would test it and work with me if it turned out to be usable. DuArt turned out to be the one, and I worked with Steve Blakely over there (who was incredibly nice and helpful). He had me drop off all the cans so he could do a clip test and check the density and fog levels.
After the test he told me the fog levels weren't too bad, but a little high, and so he wouldn't really recommend using the stock. It was still functional, but not in the best shape. He said he also saw some static marks.
I decided to shoot a test anyway to see if the director still liked the look, so Steve said that it would be easiest for them if I shot the stock as if it were the two current Kodak B/W negative stocks (5222 and 5231). So I shot a human subject holding a gray card, in front of a half black and half white background; once rating the film at ASA 200 (5222) and once rating it at ASA 64 (5231).
I'm going in to DuArt to watch the test this week and I will post again to let you know how it came out. If we still like it, we'll shoot some more tests and I will keep you updated.
Thanks again,
Mike