I burned the pants, seemed to work ok.
Other stuff I did:
1. Cloned out the dots and other scanned imperfections(still more to be done).
2. Blurred the background.
3. Added some color.
4. Added a border.
5. Increased exposure.
6. Darkened the blacks.
7. Added some fill light.
8. Some vignette.
9. Sharpened.
10. Noise reduction.
None of these were really massive changes, nor very necessary. It's best you just play with it until you get a look that you like. It's a nice old photo btw.
Your photo...