1957/8 Westinghouse B&W TV Conversion to modern - should I do it?

[Broker57]

Our house is decorated in mid-century modern and my wife has been wanting a vintage looking (but modern functioning: cable/dvd) television for our living room. We picked up a Westinghouse floor model set: model H21K256 chassis V2371-31. Internet searches only turn up Sams photofacts dated 1958, but this set does not have the one touch automatic tuning that they were promoting that year.

The set appears to be complete and is in very good cosmetic condition. The set "works" as it turns on and you get static out of the speaker but no picture whatsoever, plus an aroma that told me to turn it off almost immediately.

I'm aware that the electronics need restoration regardless of condition due to paper capacitors etc., hence the idea of retrofitting modern. However, as a total newbie to vintage TV's (i.e. - I know nothing) I don't want to get into gutting out a perfectly good set that may have some restorable value.

So I'm looking for guidance; are Westinghouse sets common enough that removing one more from the pool of originals would not be a travesty, or should I look for a different customizing candidate and let a restorer get their hands on this one?

I've attached a photo...

Thanks for your input!