I suspect PI >5 could be caused by evaporation of moisture from VPI insulation surface by heating caused by leakage current. It appears to be abnormally high.
The motor speed could be low if the capacitor value has reduced by ageing. Please check the capacitor value by simply conneting it across 230/115V and measuring current though the capacitor. Use Voltage/Current (Xc) =1/w*C. Capacitors are known to lose value by upto 20% in 5 years and result in...