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I've seen hundreds of the Sports models, never one with a chrome guard unless the whole bike was chrome. The handlegrips don't look Raleigh, but it's hard to say. I didn't think they had gumwalls in 62, but they show in the catalog.
We have them here in Canada with chrome ones many in north America were assembled in Canada just up the road from me. You can normally tell by the fender
 
The one I have. The stem came from a broken Lotus Pegasus I had. The only other brakes that'll swap are Ubrakes. I kinda wanted another to put Ubrakes on and modernize it a bit more and keep this on a bit more vintage.
IMG_20210710_173749_674.jpg
 
I actually got the original fork straightened. I took it to a LBS in Richmond Va. https://itswheelsimple.com/

Robbie, the owner, was great. He has been building frames and forks and was able to straighten it while I waited. Great local shop and I highly recommend if you are in the area.

Rides like a dream now. Has sealed bearings in the hubs and you can tell a difference when you ride! I will sell eventually, but for now this what I ride the most.

High_Sierra1.jpeg
 
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For phase 1 of this bike, I decided to just fix what is broken and ride it as original as possible.

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New tires, new shifter, serviced both hubs, replaced a spoke, etc.

The brooks saddle did not survive the first 5 miles.
IMG_4896.jpeg


The front dynohub puts out electricity, but there is a lot of drag. I am not sure how much is normal, but this doesn’t seem to be worth the small amount of electricity generated. I need to buy a multimeter to test the output.

The gearing is also too high. Maybe it is because of the front hub drag, but I never got out of low gear.

I will likely rebuild the wheels. Maybe with aluminum and rims. Not sure if I am keeping the dynohub. I suppose the brooks saddle is trash? Does anyone restore these?

Other than that a very comfortable ride.
 
The saddle is most probably toast. The remaining leather is probably bad enough that it wouldn't hold the hundred stitches need for that tear. To have it redone would probably cost the same as a new Brooks B72.

I have one from a 1960 Raleigh that I glued where it had a rip, but I wouldn't trust it for a ride. It's just for display on my Wright Special bike.
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If the drag of the hub seems to be the problem, maybe you could take the guts out and still use it. You bike is set up with the same cog and chain wheel as the ones I've seen. So, if everything is turning well, and the tires are aired up, that hub must be the reason you can't get out of first gear.
 
All I can think of is the word “radical!l

She wants it rideable for her young boys. Open to advic, but current plan is to stay as original as possible.

Looks like the frame has guides for a gyro-headset? Worth adding?
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The stem that is on there isn't original, can't see if it would work with a gyro headset. There needs to be a hollow bolt through to the stem wedge for the front brake cable to run through, like this one:
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As far as restoration, the options are endless, but it could be easy to go overboard

 

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