It sounds like the problem is either the safety valve (the reset button) or the oven thermostat (the assembly behind the oven temperature knob). Both parts can be rebuilt (if they are original parts) and replacement parts are still made for 1940's and 50's Wedgewoods.
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The constant resetting of your safety valve could be as simple as your oven pilot is not engulfing the thermocouple or at least not a large enough flame to touch the thermocouple thus it will not send the signal to your safety valve that it's safe to release gas. If thermocouple is engulfed or sufficiently by the pilot flame then you probably have a faulty thermocouple (all though intermittently working seems odd). As far as your flame not getting hot enough despite the oven temperature you set it on is more likely the thermostat, less likely a restriction in the orifice. Lastly if the flame is engulfing thermocouple and couple is good you may have A faulty safety valve. The broiler has its own safety valve which is why that one works.
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