I finally water-proofed it with a two-part urethane. It needs to be done in a warm and dry room, but the weather had been cold and wet. So I moved it to the attached, heated garage. And the weather immediately became warm and dry again. In any case, I got it done after a bit of a break. Next will be to attach leather straps here and there, and other odds and ends.
Now it really looks like it belongs in the living room.