The intercom circuit looks like a good one with feedback howling is eliminated by using loud speaker for double purpose. However it is a very old one and the author himself quoted that he already had many years of satisfaction from it
I don't think nowadays anybody go for a fresh assembly using an audio matching transformer which is obsolete.
This
Intercom circuit seems to be a good one where the Larsen effect is reduced by a much clever design. Audio quality should be very good and it doesnt require switching over.