I see you are neck high in Pearl with this project! "Swine work"! I really hate those lugs (unfortunately). Those shells indeed do look nice though. They appear to be quite thicker than a typical cheap Pearl (hence not 'cheap'). I have read many good things about thicker luan shells by both Pearl and Star (yes, read that these are fiberglass/wood). I see you have the some birch outer ply, yes should turn out nice if you can get them cleaned up enough.
Of all the COS MIJ snare shells, that one there typically does sound good. I have/had many of those and indeed like mine much. Those coffin lugs are really cool! I would suggest keeping that (or instilling drumlove into your local youngin' that will get these). I hope to instill appreciation of these old MIJs into my son when the time is right. He is 9 so soon he will be outgrowing his child set. I have a Star made Red Onyx that he will get when he is big enough for it. I need to get it slapped together soon so I can enjoy it for a while before I have to give it up!
Indeed keep us updated on the progress of this project. No need to post as you go, but don't forget to take pics along the way even 2 or 3 shots can make the restore story so much better :)