[Ron Ramirez]

The Philco 70 I'm restoring( at least attempting) has bare, frayed speaker wires at the male 4 prong connector that plugs into the rear of chassis. Can I drill out the two rivets,separate the plug and then cut and resolder the wires were the insulation is still good? If this will not work maybe I can cut off the plug and replace with a 4 pin "CP" plug? Thanks in advance for your help.
Bill

Yes, absolutely. This is standard operating procedure, especially if you are replacing the old wires with new cloth-covered wires.

Just be careful drilling out those old rivets. That bakelite plug can break quite easily.