I bought a bandsaw that had been sitting for years under tension. The well-rusted cast iron table was soaked in oxcilic acid to remove all the rust. I replaced all the rubber guide bushings with cartridge ball bearings. The dried out and ripped tyres were also replaced with blue ones. All is good and no ill effects from being under tension, this saw runs really well.
If you can save the existing tyres it's worth it. On another bandsaw I sanded the tyres with 400grit wet/dry and they're still good after 32 years. The blade was tensioned most of the time back-in-the-day and it was always inside. These days i un-tension the blade but that's a new practice for most of us.
1986 510, jointer, bandsaw, belt sander, scroll saw, jigsaw and lots of accessories. Shopsmith woodworking bench too!