Hi Lawson, generally an all original watch in decent nick will see higher prices then a refurbished one..but I would like to raise these points.
1. Lume degrades and pieces will fall off into the watch. Not good. As lume is relatively easy to replace (on hands at least!) and it can be matched to the appear as "aged" as the dial I would consider this a worthwhile 'repair'. Re-luming dials rarely turn out well.
2. On chronographs, the hands, especially the seconds counter, take a lot of punishment. After a while (after several overhauls) the hand tube becomes loose. The only solution is new hands.
3. Crowns are supposed to be a 'consumable' and need periodic replacement if you want to retain its water-tightness. All those branded used watch crowns you see on ebay were probably removed by a watchmaker years ago and are now finding a second life but these should only be for cosmetic purposes.
Of course if you just want to keep it 'as is', safe and secure you dont have to do any of the above but for something you would wear frequently it may avoid further damage to the workings.
On polishing the case.. as Geo said, hand-polish.. no buffing wheels!...I suggest using some fine sandpaper stuck to a flat craft-stick (or ice-cream stick!) with double sidedtape and ensuring that this polishing stick stays flat to the surface being polished. watch the corners ..Nothing puts off a collector like rounded case edges.. !
Anil