Looks like a nice project I have done a couple of these, Just thinking of some tips that might help Scan at the largest resolution you can get, the more digital data you have the better for repairing the damage. I dont know how big it is, but think of the final size you want and make sure your scan gives you enough dpi to get 300 dpi at your final size. about 22mb for a 10x8 print I have struggled with this and made a small print copied onto print film then printed my final images in the DR, this worked well and then you have neg and real pictures. LOL I guess your be cloning, I like to use the all layers option and have a blank top layer to clone into you can then correct any mistakes before you merge. One final obvious thing try and keep its charm the soft focus and colouring are not age just qualities of the original picture. Hope this helps :0 )

Those who do not want to imitate anything, produce nothing. Salvador Dali