Hi femmgrangwav,
It is fun!

I restored some family photos and I smile each time I look at them. They would have been lost forever otherwise. My father, 84, didn't remember most of them, so he was delighted to see them.
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I started with your version which was run through polaroid dust/scratch removal.
Patch any remaining damage. I think I only removed the spots in the background.
Ran it through a noise reduction program with light settings. A mask was added to hide important areas, eg: eyes, lips, nostrils and part of the hair. Do not over do noise reduction, if there are any distracting spots remaining, use a very small smudge or blur brush and hit those spots only.
Used highlight/shadow filter to reveal detail in the shirt. I used the highlight and midtone contrast sliders only.
I used a levels adjustment layer to darken the hot spots on the face. A mask was used to paint those areas that needed darkening.
An overlay layer was added and I painted low opacity black over the outline of the hair to darken it to match the rest of the hair.
The background had no texture at all, so I added a layer with noise so that I could paint color on it later.
After I felt the greyscale detail was good, I sharpened, using a mask to hide sharpening the skin, but allowing the sharpening in other areas like the eyes, hair, etc.
From there I colored using layers in color blend mode. When coloring I changed colors and opacities to avoid a flat look.
I think that's all
Bill