[gary rabbitt]

Hi ,
Personally if it was something from the family, I would hold onto it. Then make a plan to get the set restored. The set would probably only need a 'recapping' or changing the capacitors, test the tubes, and some basic checks.

I think I can see in your words that you would like to keep it. It would mean a lot more to you than a collector. It has a history. Perhaps there are family photos of that radio in the background? This is part of your connection to your family's past.

I would suggest that you try and make contact with a vintage radio club in your area. The members may be able to help you get the set electrically restored so it is reliable and safe.
That's a pretty large set and would sound great onc recapped. From what I see, the phonograph uses the Beam of Light tone arm. A different method of getting the 'sound' from the record to the amplifier inside the radio.

The cabinet could be cleaned up and waxed. There should be no need to strip your radio just because of a few 'character scratches' on it. There are parts on the front that use 'photofinish' or printed out faux grain. People who think there is good wood uinderneath are surprised to see cheap whitewood.
Good luck, whatever you decide to do.