When using de-ionized and/or distilled water to clean electronics, as soon as the water is on the dirty board it is no longer clean. Any salts will be readily dissolved and spread. This is a problem with any kind of cleaning. It is a good choice to use for general cleaning. Rinse often and over and over. Be gentle.
The water must all evaporate before applying power. Use a low pressure air flow (squeeze bottle) to force water from nooks and crannies. Heating in an oven at about 70 degrees Celsius for an hour or two. Watch out for plastic parts. You don't want the water to boil. It can cause damage.
Follow with 99% Isopropyl alcohol (not the diluted stuff) Work it with an acid brush. Rinse Rinse Rinse.
I have used WD-40 in the past, but I find that it attracts dust on all the surfaces it is on.
For potentiometers, move the control to one end. Put 99% Isopropyl in a squeeze bottle and spray into the potentiometer. Use an air puffer (squeeze bottle) to dry Do not operate the control. Use a lubricant such as Caig DeOxIt F100L-L25C. This is not a recommendation. Just an example. There are others. This one comes with a precision dispenser to lubricate just the potentiometer. Spray lubrications just get on everything and attract dust.
Once lubricated operate the control to the other end an repeat the process. This should remove any gritty stuff that will scratch the resistor. Once lubricated then operate the control back and forth.
Old potentiometers eventually form a groove where the wiper contact touches the resistor. When the groove wears through the potentiometer must be replaced. When powered on, operating the control back and forth should be quiet. If there is static noise while operating it is either still not clean, or worn through. I have carefully disassembled potentiometers to clean them, but only as a last resort. They are delicate when disassembled so go slowly. When taken apart you can see if the groove is worn through.
If switch contacts are accessible, then a burnishing tool (not a file) can be used to restore the contacts. The contacts are often a thin layer of material to achieve good wetting on closure. Once the layer is worn through the switch should be replaced.
If the contacts are not accessible then cleaning fluid can be dripped in if necessary. Any cleaning fluid must be evaporated out before powering.
If the cabinet is wood or plastic I cannot advise.
Enjoy your restoration. Sounds like fun.