sounds like a nice, almost all-original moto you found. the problem of it being 110 bcd just opens up all kinds of opportunities on rings. my used grand record came with a half-step setup of 48/44, and i rode it like that for years before changing it to the more original 52/42. it's nice having rings so close together for the flats. but i did find climbing to be difficult at times. and actually now, depending on the incline, a 42t ring seems a little large. if i were to increase your hgh gearing, i might start with a 50t as the new large ring, and keep the 34t in place. change to a new and slightly longer chain. raise the fd to only very slightly higher than the 50t ring. and then see how it rides and shifts. if you find a good deal on a 48 ring, you mifht try that instad of the 50. and you can also make a table of the step gearing to see what might work best before shopping. sheldon will be of help here.
best...