The Philco 41-231 Still Sings Beautifully!

[DavGoodlin]

Philco is one of the best radios to work on, IMHO.
For yours to work like that, I'd bet that the electrolytics were replaced, even 50 years ago.
If you're concerned about recapping, do one at a time.
Do the electrolytics (power supply filter caps) first.
Take a picture before you remove the old cap.
Power it up to verify you did not make a wiring mistake, then do another.

With what you'll learn, I bet you be doing TV sets before you know it.