It definitely sounds like some circulator or another getting ready to lose it though. You should be able to figure out which one it is using a length of tube as a stethoscope. There's an outside chance that it is cavitation on a pump impeller due to low system pressure, but I doubt it.
When it gets to where it's making that grinding noise 100% of the time you'll have effectively zero flow. (At least that was the case for an aging green Taco on my own system the other day.
Fortunately I had a spare to swap in immediately, since it turned out to be one of the coldest days of the season, with a daily average temp of +5F, which just happens to be the 99th percentile temperature bin in my area. The overnight low was -7F, which occurred about 6 hours after the spare pump was installed.)
I the boiler is as antique as you say it is, think about updating it. The surface features of the heat exchanger plates that give it the surface area & turbulence for efficient heat exchange will have eroded to nearly-smooth on both the fire side and water side. It may have been able to hit 75-80% steady-state efficiency when it was brand new, but after 75+ years of service you'd be lucky if it's still as high as 60%. If history is any guide it's probably 5x oversized for your heat load too, now that you've taken the second-floor zone off it. By being way oversized it can still heat the place even if it was only getting 30-40% efficiency. Newer right-sized equipment would cut the fuel use by a significant double-digit percentage (possibly even by half, depending on oversizing factor and condition.)