Typically, there are a few considerations, and some of those will arrive with their own considerations in tow. If you want to preserve the instrument as a collector's piece, the less done to it the better. A mid '60s LG-1 isn't exactly uncommon, so most would, I believe it to be a better vintage player than collector's piece. Losing the plastic bridge and the adj hardware should ideally improve the tone unless you attach a really oversize rosewood replacement which could decrease volume and lend a 'mashed potato' tone that some like, but most don't. Make sure the bridge plate is intact and well-glued, and likewise the transverse brace in that area. All guitars should exhibit a little top belly - it's a flat-top in name only, and excliding such causes issues. A good luthier should be able to give you a good idea of needs and prices for work involved in about 5 minutes. All in all, you should come out with a nice little player.