If you're going to keep it as a shooter/hunter, I'd go ahead and refinish it. I redid a 1971 Super Kodiak and was very pleased with the results. I'm not a collector and don't intend on getting rid of the bow since I always wanted a Super K and it was a gift to me.
I was missing finish around the rest plate were the old one I pulled off over the Berger Button pulled the finish off to the original wood. Also, my limbs looked like yours around the decals with the horizontal checking.
Here's before and after photo's.
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Note that the decals and overlay glass on the riser look white. A before picture would have shown those an yellow hue because of the yellowing of the old finish. You can also see the color change in the riser woods from before and after.
Just be forewarned, that finish on the Super Kodiaks is very hard and you'll go through some sandpaper getting it off. A lot of posts I've seen removing the finish are using a curved razor blade and carefully scraping the old finish off. If I ever do another Super K, that's what I'll probably do. I redid a 1957 Kodiak this summer and that was a breeze compared to the Super K.
And of course, this is the final results and what it's all about-a December 2012 late bow season hunt from the ground as a snow storm was moving in:
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