Which old Technic set included large yellow motor?
I actually managed to find the exact set while refining the question. It's set 744, released in 1980.  

 

Here are the reasons why the research I did prior to writing the question didn't lead anywhere:


The yellow motor does not show up when searching parts on BrickLink. It's probably because on the list of set 744 parts, it has a note saying "Part colour code missing."
While the set contains lots of gears and axles, bricks and plates with holes, a motor, etc., it's not a Technic set, but a Universal Building set, so it doesn't appear when searching/browsing Technic.


What eventually led me to the correct set was focusing not on the motor (which I had previously considered the most unique part), but on the control box. Listing all sets where that one appeared also showed 744.