Quite a treasure you have there. I can offer a little advice from just refurbishing and altering an English suit from '46 (not as old, but still old wool). The most important thing is to check the thread, especially where there are obvious later alterations. The cloth may still be healthy, but the thread may have rotted. I had that problem on the suit, most of it was fine, but the trousers, which had been heavily altered after the owner put on several pounds and a tear in the leg, were done up with a lesser quality thread which tore very easily. It would be worth checking the brace button thread, too, if you're planning on leaving them, even if you don't use them. But especially if you do.