This was a good thread for anyone with a series set. I have the same set with worn and faded tan covering. Red seems like a good idea. Eric H had attached an advertisement for it with red tolex, which looked right with all that gold trim.
http://www.videokarma.org/showthread.php?t=262373
I got side tracked but its still on my bench
I replaced the electrolytics in mine, then powered it up slowly and there is a short in the filament string causing the 12BY7 to light up bright, with the remainder dead. I will replace the fusistor with a CL60 thermistor, series fuse and resistor. Great Idea.