This is one of those "it depends" situations. If you have any thoughts at all about selling it, then leaving it "as-is", is probably the best option. That's what the collectors and "Mojo" fans want, so why spend money up front - only to lose it on the back end? If it were me? I'd just play it as-is, while I looked for a buyer...If you really have no plans to sell it? Then, by all means, fix it up however you want. it's your bass, after all. I had this '78 P-Bass refinished.. geez, 25 years ago; but, I didn't have much choice. The biggest piece of finish left on it was about twice the size of a postage stamp, and all the finish would have fit on a business card. However, I have no plans at all to sell it, so I don't care about collector value (and it's only a lefty, anyway...) Oh, and it weighs more than yours; 11.1 lbs. ....

As for "Mojo"? Here's all the Mojo you need; the "Triple-Strength Blues Boy" mojo bag for musicians. $34.95, in the bag color of your choice, from Mojohand.com...

. You've helped me appreciate that this is a pretty cool bass to have had all these years.