I've had my 1952 original radio modernized by a vendor in Wisconsin and he did a great job for about $400. plus I bought the parts and paid S&H. It looks absolutely original but it is now AM/FM with 100 watts of power...you switch from AM to FM by turning the radio off and on. You also keep the original AM dial...and estimate FM. A little red light goes on when your in FM.
It would be great to figure out how to perform this modification.