What is you goal? protect frame, make it prettier? does having the decals make a difference to you
what Raleigh model?

but knowing nothing else I would say, stop any rust, touch up with clear and ride it proudly with it history showing

Next choice if you want it looking nice is to get it powder coated by some one who is experienced in bike frames and then then add decals

full repaint by a pro is expensive ($600 to $1000) and does add that much to resale price