There are rubber "tires" on the wheels. They _may_ (or may not) be the problem; it may simply be out of alignment.
After-market tires are available as well as from Delta if they do turn out to be the problem. One first step to check is to use a straightedge and ensure the two wheels are coplanar--if they're not for some reason, it's very difficult to get a blade to track even if the tires are still ok.
Definitely it is not at all likely there's anything fundamentally wrong w/ the saw; I'd wonder if the person who told you it was likely irrepairable wasn't fishing to "take it off your hands for you". :)
I'd suggest you go to the
rec.woodworking
group instead of a.h.r for more specifics...
Actually, I'll post this followup there as well.
--