I've downloaded your pictures and yes, this model seems to have suffered a bit. But these are mainly due to dirt and cigarette smoke accumulating on all surfaces.
I'm actually building the FF from a recent kit by Model Shipways, and what strikes me when I look at your pics, is that there must have been quite a few changes made to the plans over the years. So I sincerely think that a "thorough" restoration would bring you too far (it would be easier to rebuild the kit - which certainly is no easy task at all. Next to that, I think it would be wise to replace all deadeyes (which actually should be rigged with tan coloured thread), maybe replace the ship's boats aft, which indeed look like Revell boats (an option would be to remodel these boats' interiors.
Youi could have a look at some (partly) built FF on WWW;modelshipworld.com, galleries, Flying Fish. You could also download the FF building manual from the Model Expo site. It is in pdf format but of course, you cannot download the plans, which they sell separately.
Now, the tim you would save by not doing a THOROUGH restoration would obviously be better spent by buildiing a case for this very handsome model.