Looks like a great find. I ran into a similar situation with my Macaroni radio in my 1950 Mercury Sport Sedan. I recapped it, tested the tubes and replaced the questionable ones and my audio was very weak and if I turned the volume up it became garbled and distorted. Low voltages I suspected and most were down to half or less due to many resistors that had increased in value over the 68 years of use. My B+ etc. is a bit high due to the limits of values of resistors I have on hand and the volumn control is very touchy now (I turn the volume all the way down until the tubes warm up) but better than it used to be.