I bought this on here several years ago and never managed to get a projector to watch it.  I have no idea on the condition, except to say it looks okay.  No funky smells.  When I bought it I was told it was in good running order.  As I said though, I do not have a projector and have not watched it.  STILL...a great piece of vintage memorabilia from Bonanza!  I did pull out a little of the film and could see the color looked okay.  Hoss's coat was brown and Little Joe's hair was dark (no pink hair!). 
It did not not come with a case.  Just as you see it.  

Episode Guide Reads: Season 4, Episode 7 – Aired: 11/4/1962
The War Comes to Washoe -  Joe and Adam's differences in politics lead to unrest in the house. When Joe is picked to go to a convention on the statehood of Nevada, will his relationship with a admitted Confederate's daughter weigh his decision?
Show starred: Lorne Greene, Pernell Roberts, Dan Blocker and Michael Landon