I'm finally back to working on it!
The cabinet with vinyl sealer applied. I had first cleaned away the shellac I'd previously applied, as the cabinet was too dark, and there were some runs where the stain and shellac had mixed.
https://i269.photobucket.com/albums/...ll%20image.jpg
The water damage on the top will be mostly hidden by the new HMV water-slide decal. I thought about replacing the top veneer, and decided the risk of damaging the side veneer was too great.
https://i269.photobucket.com/albums/...ll%20image.jpg
The cabinet after the first coat of clear gloss lacquer
https://i269.photobucket.com/albums/...ll%20image.jpg