How's that saddle? I just got a similar looking model in NASTY condition and have been having good luck restoring it.
First I fed it a TON of lexol leather conditioner and then I had to manufacture my own tensioning bolt out of some old nuts and bolts. Today I sanded on the cracks a bit (they were all over) and I might sand a little bit more. Otherwise, the next step is a coating of sno-seal to hopefully finish the top and provide some waterproofing. It will go great on my next city bike project but I fear that there is too much stretching/cracking around the rivets on the front that might give way under riding.