Otari MX5050 BII 2 Question

I picked one of these up last night.  It had the large metal reel on it and the guy played me some Utah bar band that recorded with it probably in the late 80s.  The machine struggled to rewind a full tape but I finally got it off.  I also got about a dozen tapes but most of them are brand new.  I did find one used tape (it is not the big metal ones but the smaller seven inch reels) and set it up but when it played it was obviously playing backwards.  So I fast forwarded through the tape and then swapped the reels to try it again.  Now it is obviously playing right as I can hear Van Morrison's Moondance playing.  Problem is that it is playing like the chipmunks.  I did a little research online and tried using deoxit on the speed button but that isn't having any affect.  I only have one free 10 inch reel to use so right now I have that playing and the 7 inch reel on the other end.  I don't know the first thing about these things but that doesn't seem like it would be a problem.  I am slogging through the manual but thought that I would throw this out there to you guys first.

Thanks