Sweet bike. Looks like a real Phillips, not a Raleigh Phillips. Any date on the rear hub? Any oil ports on the bottom bracket? You can take those pedals apart and clean/grease the bearings or hang them on the wall cause they're pretty cool and put some plain ones in their place.
I like to clean a pain job with lemon oil furniture polish and shine it up with Kit Scratch out (kinda keep away from the decals) and some folks like to finish up with Turtle wax Paste wax or something like that that leaves a protective film on the paint