I've been working on these since I was 12. But I've only recently been getting into complete electronic restoration. There's a number of rules you need to know. Once you learn them its not all that hard. You mainly deal with tubes, wiring, and capacitors. Most radios have the capacitance and voltage ratings on them. There are generally 2 different kinds of capacitors in these radios: Electrolytic and line-filter capacitors. With Electrolytics as long as the values are the same or higher than the original you are good to go. So as crazy as it sounds, if you had a 5uF electrolytic rated at 250 volts, you could stick a 12uF, 650 volt replacement. With non-electrolytics the uF rating needs to be within 20% of the original and the voltage needs to be at the same or higher.
Tubes are different animals. Either they are good or bad and they can be bad even when they light up. I live close to 2 older electronics supply stores that have tube testers. I bring them in and test them out. If one or more is bad I order replacements. Luckily they made zillions of these tubes so I can usually find them on Ebay for $2-$3 each.
Yup, they also get HOT. If I leave any of these on for an hour or so it'll heat up the room. That's why none have back covers. They need lots of air to keep cool.