hi Becky,
I;ve just done some googling to try and fine the answer. It seems that the "stomach stapling" of the 1970's is technically called gastroplasty (or in some cases called "vertical banded gastroplasty").
Types of Obesity Surgery | eHow.com -- 5th one down on this list
From what i read there and elsewhere it seems that it was similar to the new POSE operation, in that it folded the stomach (or stapled the stomach) in on itself, without cutting any away .... and the vertically folded / stapled stomach was then covered in some polyurthene "band" / sheath type covering to keep it neat.
I think it was experimental, and hope that the 2 new nearest alternatives (either POSE or vertical sleeve) are now much improved on what they did back then.