UPDATE: this may be R and V, not R and Y, although I'm still not sure how it was set up.
I am replacing an old thermostat in my house (the house is from the 60s, I'm not sure how old the thermostat is). When I took the faceplate off, there are two wires. One, which is white, is hooked to a connection marked R. The other, which is red, is hooked to a Y connection.
Based on what I've read, Y is for central air. So I should be running connecting R and W wires for a two-wire connection. Is that right? Or should I connect these wires to the R and Y connection in the new thermostat.
Here's a picture-I marked the two connections as they're faded.