Greg, Some of the VK artisans do not want anything left to chance, especially on rare models and those that can bring real money. I have been on there for 7 years and prefer to assist the timid and learn from the bold. For those of us with limited bench time and more pedestrian TV models, I do full-recapping with a few exceptions like leaving ceramic bypass caps alone, etc. TVs have so many resistors, its often easier to recap then power up and measure DC voltages on the tubes to sniff out any bad resistors.
My concern always begins with the AC plug, so I install safety caps from both sides of AC line to chassis, add a fuse (1.5 to 2 times steady amp draw) and surge limiting thermistor to reduce tube filament inrush, finishing with a new grounded AC cord. The way some of those tiny AC plugs look with the green ooze around the prongs and cord, I cannot take chances. If I see it, I have to deal with it.
A TV this age needs every electrolytic capacitor replaced, though some VK'ers have had success "reforming" them with gradual power-up and prolonged burn-in. Electro. is all caps 1 uf and higher. Anything from .001 uf up to .47 uf are probably wax-paper and must also be replaced. I do not stuff cans, just disconnect and leave them be. The replacements are much smaller and will be out of sight under (or behind) that chassis anyway. The Magnavox PC boards are pretty rugged but use a 40 watt or smaller soldering pencil and solder wick if you do not have a solder-sucker of some kind.
Based on what I read HERE, I was picky restoring the 93 series amp and 57 preamp-tuner on my '62 Normandy Symphony. I just have not put it together though its already in my attic-lounge, waiting for the room to be done. Resistors drifted beyond 10% were replaced, all the paper and electro caps and I decided a few ceramic disc coupling caps would be better off as mylar. Ceramics being temperature and vibration sensitive, have no place where frequency response could be affected.