Your Cyclone looks like it's in realy good shape and well preserved especially for the plastics, the ramps and the cabinet for which I would only do a few touch up, has it been home use only or was it at a location?
I'm currently in the process of a playfield swap for my own Cyclone and I do think it's a must if the playfield is in rough condition. your playfield doesn't look that badly damage from what I can tell. The artwork on back lane on mine was almost completely gone and had a brownish color to it.
Still, I can't wait to see more of that project!