[Raleigh]

You probably can't tell from your radio, but the push buttons were once a red, semi transparent plastic. They were used in a good many 1939 and 1940 Philco radios, but now are almost never found intact. However, reproductions are readily available from several vendors. The dial light shines red through the push buttons as well as illuminating the dial. It's a nice effect.

If it's working, you might get away with playing it for a while without rewireing and recapping it, but I wouldn't count on it. Some of those wires with crumbling insulation carry 100 to 250 volts. The insulation flakes off, leaving the wires bare in places. If a bare part of the wire touches something it shouldn't, it could be a fire hazard, it could put high voltage on parts you can touch, and it might damage the power transformer or other internal parts.

I got away with playing a mostly original 41-280 until 2007 before I rewired and recapped it. I was lucky, but best not tempt fate like I did. Best not plug it in until it's had a good going over to replace wires, capacitors, and resistors that have seen better days. Here on the Phorum, we call that kind of work "fun."