Hey everybody :-),
I just finished my latest restore and though, I might share it with you ☺
Before:

After:

Now editing this one was pretty easy, because most of the restore was just usage of dodge and burn.
Of course I'll give a quick walk-through anyways ;-).
First of all I did the usual healing/cloning to get rid of minor spots in the image.
Next I created a Brightness/Contrast adj. layer set to "Luminosity" mode and clipped a new layer in "Soft Light" mode to it.
On this Soft Light layer ("dodge & burn") I used black to darken parts and white to lighten parts and digitally "pressing" the image.
To show you how this layer looks like (more or less - I used many different layers and merged them for this presentation) here's a representation of the dodging and burning I did:

Next I had to fix the saturation, so I created a new layer set to "Saturation" mode and used white (or any other shade of gray) to desaturate and red (or any other 100% saturated color) to saturate areas.
I also fixed the color (made it a little more uniform because I thought that the image was tinted, so it should have more or less the same hue overall) with a Hue/Saturation adj. layer (I selected differing hues and shifted them).
As a last step I copied & pasted a part of the jacket over the (pretty rough) area at the left and used curves to fit the luminosity and tone.
So I hope you like it and if I made any mistakes, feel free to correct me :-).
(Btw., the spot underneath his eye is a birthmark imo.)
Edit: To support your eyes and see the damage a little better, feel free to check out my video here:
http://www.operationphotorescue.org/forum/index.php/topic,2822.0.html - but be warned, it's somewhat geeky ;-)).