Hi Terry,
It rather looks like your motor does not have a centrifugal switch from what I can see but that is not consistent with the rubbing noise unless that was bearing noise in the motor of from any belts etc inside the saw.
This is a diagram of a typical single phase motor
Assume for now that the starting switch is closed all the time ie you don't have one.
Make sure the machine is unplugged from the mains!!
Locate the wires coming from inside the motor - seem to be the yellow ones in your photo. You might have four with two connected together or that connection could be inside in which case you will have three (maybe plus earth?)
Set you meter to read resistance (ohms or the Omega greek letter)
one of the three (four?) should go to the capacitor only connect one meter lead to that junction.
Measure the resistance to the common connection going to both windings ( far right on the circuit). Note the reading; this should be the resistance of the Start winding.
Put one meter lead on that common connection again and the other to the winding terminal that so far you have not tested. This is the left hand end of the top coil on the diagram. Note the reading; this should be the resistance of the Run winding.
I would expect both readings to lie in the range say 5-25 ohms
If your meter has a capacitance range (not all do) disconnect one end of the capacitor from the motor, short it briefly to the other capacitor lead (it may spark - we want to make sure it is discharged!) Then measure the capacitance of your old - maybe suspect capacitor. Note the reading it should roughly agree with the value printed on the case.
Please report back.
Bob