I am in agreement with David about the hilt. It isn't apparently the hilt of the first issue of the blade but a piece of the history of this kris so when it would be mine I don't would change something.... this hilt will never have had silver bands in my humble opinion so I don't would touch it.
Since the blade will have a lamination like you told us I would sand it with very fine wet abrasive paper and would etch it.
A other thing is the missing silver-inlays, I think to restore this will be a good thing.
About the sheath: it would look nice with silver bands again since they have been there like it is still to seen. A care with wood oil or antique wax and a closing polish of the wooden part will bring out a good looking sheath.
But this is only my humble opinion, others will think different.
Regards,
Detlef