Please point me to old Philco 101. I'm new to this and would like to know what do with my new old radio/turntable - before even plugging it in - so I don't wreck anything. I tried searching and wasn't successful, so please forgive me if it's really obvious.
Good start by not plugging it in! Here's a good place to start reading Phil's Old Radios - Beginners. All the electrolytic and paper capacitors will need replacing in your set. Out of spec (i.e. more than +/- 20%) resistors also. Read through threads on this phorum to get a feeling for what folks are doing. Ask questions here as well, there are many friendly folks to answer.
Also, note that this set does not have a power transformer so working on the set while energized can expose you directly to the full house voltage and current. You should use an isolation transformer to lower the risk of electrocution.