Can I repair/restore Eames lounge leather?  

I personally think it's best ...
I personally think it's best to leave it alone as it looks great with that badge of honor. Give it some conditioner, it'll probably shine again. Unless we're dealing with actual cuts or tears, that adds character to the set. However, if you're set on restoring it, I'd recommend Fibrenew. You can google it and find out more. Good luck and keep us posted!

Leave it alone
until it actually cracks apart. Even a new Eames Lounge chair looks weathered quite soon as you buy it because of the gathering and folds of the leather.

Lexol
Go to an auto supply store and get a bottle of Lexol, it works wonders on the leather.

Everybody who says leave it...
Everybody who says leave it alone, I sometimes wonder if they care anything about maintenance. All leather needs to be conditioned once in a while or it will dry out and crack.
Lexol is a good product, though I prefer Leatherique pristine clean and rejuvenating oil. You can find it online on car cleaning specialty websites and it works great. It did wonders to a pair of old, cracked Pollock chairs I had.

My understanding is that qual...
My understanding is that quality leather can pretty much last forever as long as it's regularly conditioned and is away from the sun. Try that and if you're not happy with the result, then think about your restoration options.

Beautiful
Hey thats the color I have, and mine is the probably the same vintage as yours.
I would die if my cushions were in as good shape as yours appear to be. The quality of your leather and the amount of wear looks ideal to me.
Like Kin says, I would do what you can as far as conditioning the leather, but don't even think about a repair or re color unless as a last resort.

.
yup.

By
suggesting to leave it alone, I meant don't get it recovered....live with the leather with its natural blemishes. I didn't mean to never condition the leather.
It should be Lexal'ed or some other gentle leather maintainance product.

Did you ever condition the leather?
Please post pics.