I think there are better than cyclart (and that isn't to slam them either)
try Vintage Cycle Studios. Brian Baylis does some wonderful work
and his prices are a bit more reasonable. I concur that a full repaint may not
be required, in which case it may be even cheaper.
A Frejus of that vintage that has been in the family that long
deserves to be respected. Tell your wife it's an homage to her
great uncle, a family heirloom to be passed to your kids. . .
works every time.

marty