Carpentry and Woodworking - Preserving old painted wood

I have a Milk crate from the 40's that is painted with the original "Carlson Frink" milk label. I want to clean it up, and prevent the paint from chipping/fading more than it already has. How do I go about doing this? The logo side and lid is some sort of HDF/MDF board, and the sides and bottom are wood (not plywood, real wood, although, I'm not sure what kind of wood).
If I am successful, I want to use it in my wedding, so, I've got to make it look good :)

Here is a picture of the crate:
http://i93.photobucket.com/albums/l50/gwiz42/IMG_1739-1.jpg

Mineral spirits will remove dirt, grime, and grease. It does not leave a residue. I would try in the usual inconspicuous place, first. To protect what remains, I would try water-clear lacquer.