That looks like it will clean up really nice.

Just out of curiosity where is the serial number and what is the format?
I have what I was told was a Raleigh and close to the same vintage as yours and the SN does not match the format that would be correct for a Raleigh according to most information I am finding. The bike I have is a simple 6 digit format 166805. I do know my bike was bought new in the UK and brought over to the states.