I spent a couple of hours yesterday working on my new old Heresy I speakers. I got the speakers about 3 days ago. I fixed a chip in the veneer and then reconditioned the finish using Howard's Restor-A-Finish and then Feed-n-Wax.
Before: see the water stains, chip and other flaws in the finish. The old finish was about 30 years old.
After: this is what they looked like after 2-hours of work. No more water marks. No more chip. The next phase: new crossovers, tweeters, and internal dampening and sealing. Can't wait! I didn't know about half this stuff before joining the forum. Thanks for everyone's input on how to bring a pair of speakers back to life!