Thank you all for your positive comments, you have excellent taste.
Scott, that's a very good question. Even though it's not a real beauty queen graphically I believe it deserves restoration/conservation and a good frame job by virtue of it's historical merit if nothing else. If it were really tattered and screwed up I'd leave it and display it as is....But it's in pretty nice shape overall and could probably be restored to look mint and most of it would be original condition.
If it's a school or team or railroad issued event posters for a major event like this Big Game one or a Rosebowl/Tournament of Roses, or any high profile sports event....I'll take'um in ANY condition....and display'um in any condition. Especially when they're real early....I consider them that rare and important.