I have a 1930's veneer top table and every few years I do a very light wet sand with steel wool and use a french polish like product on top. It goes on clear and I let it dry for 10 minutes and the buff till the surface is smooth and shiny again. I have seen a similar product called antique oil sold by homer formby too. It makes the table top look like new again and it is not too much work. Also maybe gel stain might work?

Try posting this on the Woodworking forum. There are some very skilled woodworkers over there who should be able to help you.

Tuesday

Go to WalMart and get some 0000 steel wool and a container of Goop hand cleaner (in the auto department). Apply with the steel wool and wipe off with rags. This will dissolve any "gunk" on the surface and leave a nice shine. I do this with all my furniture and kitchen cabinets. Safe and non-toxic too. Do this until the wood feels smooth as glass.

Angel, when you decide on the best way to preserve the value, as well as make it beautiful again, please come back and share. I purchased a cherry Willet sideboard and hutch I fell in love with, also at a happy (for me) price because it's missing 2 of its original handles and plates and has 50+ years of normal household wear on the finish. I haven't been rushing to do anything about it since it is such a big job, and also because it really should be done by an expert who just isn't in our budget.

Thanks for the info, I'll cross post on the woodworking board. I'll report back Rosie!