I have been a loud supporter of keeping original survivors original. But to me this seems like a fine candidate for a hybrid cafe conversion. Torn seat, no sidecovers, missing 4-4 exhaust. Nice original tank and good chrome, but not complete enough to worry over cosmetic changes.
Clubmans, rear sets, Vietnamese cafe seatcover. Trim down the rear fender (I perfer a fender to fenderless, even on the hardcore bikes), smaller tail light and directionals. If the paint is in decent shape I would leave that alone, that is a fabulous color.