poor quality video VHS camcorder: is there a fix? I recently rescued an old Panasonic M40 VHS camcorder. All the electronics work absolutely fine. I bought a pack of VHS tapes and did a quick video test. The video quality is very bad with wobbly lines moving through it all the time and often changing from black n white to colour. The sound quality is atrocious but I can live with that.

Is there anyone who has experience with these old units that knows of an easy fix? I played with the tracking so it's not that. I doubt it is physically the tape because I bought them brand new. Has anyone got any pointers or knows how to trouble shoot the problem? Or is this a massive waste of time? 

I love having this big retro beast to play about with and I know it is gimmicky but so far it's cost me a tenner in tapes and an afternoon of fun. I'm willing to put more time and money (up to a point) into it but have no idea of what to do or where to go so any help will be well received.
The AV ARTIFACT ATLAS is a good resource for identifying errors in video. It also gives advice on how to fix them.