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396 Posts
Leaving a breadcrumb here to other noobs with a Lionel postwar collection who didn't know: Within "O" scale, there's "Scale" and "Traditional" which appears to work out more like 1:48 and 1:56 respectively. An excellent dissection by Lee Willis with photographic examples is found here:
http://www.modeltrainforum.com/showpost.php?p=1296305&postcount=32
and here:
http://www.modeltrainforum.com/showpost.php?p=1297969&postcount=34
http://www.modeltrainforum.com/showpost.php?p=1296305&postcount=32
and here:
http://www.modeltrainforum.com/showpost.php?p=1297969&postcount=34