Quoted from vid1900:Good pics to show where you are at!
1. Sand out the shooter lane and see if it can be cleaned up.
2. Sand out the ball trail that is in the natural wood before it enters the black field and wizard's cape. Either sand all the surrounding wood, or tone the repair to match the old wood.
3. Spray a light coat of clear to lock down any loose wood fibers.
4. Touch up where the paint is worn through. Do it any way you feel comfortable.
5. Scan and make up some waterslide decals to replace text on inserts.
6. Keep updating us on your progress.
I have been reading through this thread and I thought I would make one comment. I recognize vid is the expert here, but I have a suggestion vs. just sanding the ball trails, etc. in the bare wood. In furniture repair, if there is a dent or gouge in UNFINISHED wood you simply apply a damp paper towel and a hot iron and steam it out. The steam will exand the wood fibers and many times you can completely remove the damage. When you sand, you are removing material and that is irreversible. I would suggest trying the hot iron first. I've done it countless times with fantastic success on wood.