Hey, Rick.
I see where you're going with this. I have a few ideas. I've worked in Audio Restoration for 20 years, I would would really like you to consider doing ALL of your restoration processing before you start with the remastering and stereo expansion stages of your project. All filtering, eq, and broadband noise sampling/reduction work much better with the original audio in its mono state. Also, I have, linked below, a screengrab of the broadband noise reduction settings that work really well with the noisefloor at the head of your sample audio. Also, I would strongly recommend that you processing everything at 32bit for maximum quality and restoration.
I have to ask, that undulating wind-like audio at the beginning is intentional, correct? I was flashing back to Floyd and the mid 70's.
Also, there's a fun little tutorial from Adobe's Jason Levine about using freq. isolation on multiple copies of source audio for stereo positioning and processing. Also, don't forget the Graphic Phase Shifter / "Mono to Stereo" effect under stereo imaging effects set. It's a great place to start with some mono expansion...very teakable. I just used it on a documentary for television on B-roll footage, to widen it out under the Dx/VO tracks.
Dropbox - Mono Track Sample - AuditionCC2014-Screengrab.png
Purple is the filtered audio with Broadband NoiseReduction curve to the right applied
Green is the original
Disregard the Blue
Samples of FFA are from the very last horns phrase at the end of the sample "Dah-Deeee-Dum"
Cheers,
-CS
PS. If you find any of this useful, please LIKE the response below. Thanks