I'm looking for any suggestions to where I might even begin to restore this photo... well, in particular, the red spots. I'm a noob and any suggestions would be greatly appreciated?

Welcome to RetouchPRO. One way to get rid of the red stains is to duplicate the background layer. Then do Image>Apply Image and select the background layer, choose the Green Channel, opacity 100% and Blend Mode = Normal.
Change the opacity of this new layer (now gray) to Luminosity.
Next add a new blank layer on top and change the Blend Mode to Color.
Now select a suitable size paint brush. Alt + Click an area of good skin color adjacent to a red stain. Then paint over the red stains. You can also paint over the glasses and hair etc. Just keep Alt+Click to sample good colors.
The rest of the image probably neds a lot of patience and the clone tool.
FYI, your image is way over compressed (jpg setting 2). So I did not try to smooth out the noise or pixelation. Next time try sizing your file to approx 4x6@72 dpi and save on the highest jpg setting that will allow you to fit under the 100KB or 200KB size limit.
Regards, Murray

Here's my attempt:

interesting problem. i tried a few things not really normal for me, but didnt really like the results, so in the end, it was clone, airbrush and push with the addition of a jpg artifact removal on normal setting.

This is an awesome technique! Thanks for the post. I'll make good use of this on a few old photos I have. :)

Shawn

Hi there...here is another version... same channel techniques as above with some clone and healing brush.

Butch

This is an awesome technique!

I completely agree. Just wondering though... if you had a similar problem, but with a different stain color... say green or yellow, what would you do as far as the channel selected (in this case, it was green)? Would it just depend on the cleanest channel?

I am also worried about the boys face. When using the above technique and I go over the boys face, it almost looks as if someone smudged his face with a grease pen... somewhat grayish in color. Would that be where the clone would come in useful?

Here's my WIP... please, by all means, critique...

I'm looking for any suggestions to where I might even begin to restore this photo... well, in particular, the red spots. I'm a noob and any suggestions would be greatly appreciated?

I did removed the red spots. Most of the noise & jpg artifacts would disappear
in better scan work.
To get rid of the spots I used 5 targeted curves adjustment.
One for the man's face, kid's face, yellow shirt, man's hair & a background.

shawn, from yuma, welcome to RetouchPRO. not sure which technique you were referring to there.

and butch, nice job! :)

I am new to RetouchPRO. I don't know how important this will be but has anyone noticed that the picture needs to be flipped most words read left to right. look at the pendents in the background.

I am new to RetouchPRO. I don't know how important this will be but has anyone noticed that the picture needs to be flipped most words read left to right. look at the pendents in the background.

The picture is OK.. that is a mirror