I'll have a go at opening it some time over xmas and look for any leaking caps. If the caps look OK inside I think I'll keep it

I've taken a look inside the big probe wallet on top and there were no probes there but I did find the original firmware (3.5" FDD) disk inside the original EULA envelope from HP. This was dated Jan 1996.
The firmware disk only has two files on it (ROM and SYSTEM) and it covers lots of models including the 54542C. It would be nice if the 40C could be hacked to become a 42C but I'm guessing the hardware will be different inside?
Also this scope boots really fast. Just a few seconds. There is a fair bit of fan noise but not as bad as I feared for an old 2GSa/s 500MHz scope.