Some will do a kerosene soak, if the head is really bad. All electrical components would need to be removed. I am not sure you'd want kerosene in the bobbin race wick, however. I have carefully used rubbing alcohol on the parts underneath, either on a qtip or on a cotton yarn wrapped once around the rods and pulled back and forth. Rubbing alcohol is not safe on the topside painted surface.
As to the silvered decals, the protective top coat is compromised and the decals cannot be restored. Red-eyes were made in great number, would it be a better parts machine than sale potential?
Or you could strip it all, repaint, apply new decals and clear coat. I found a set of pretty waterslide decals, that would work well on a head. I do have a Red-eye candidate.