Bart,
You've got a beautiful sedan, one of my favorite years regardless of the body style, and the chop is perfect. Like Dave says, the pricing is going to be dependent on the locality and the audience at the particular auction. When I Google'd "1934 Sedan For Sale" it had several (
1934 sedan for sale - Yakaz Cars ), and they seemed to be ranging from low $30's to mid-$40's asking price, but you might jump on the Mecum auction site and see if you can find a comparable vehicle in their Kissimme auction going on now?
I had not noticed the front track, but Dave's got a good eye. Not sure you can gain much via back spacing to pull the tires under the fenders more - looks like they're already spaced inboard from center. What jumps out at me is that the graphics scream '70's, which I think may restrict your audience somewhat. I'm more conservative and would probably be looking at doing the body solid silver but I would hate to lose that pin-striping on the back side! That would affect my bid price for the car, but that's purely personal preference.
I watched some of the Mecum and Barrett Jackson auctions, and one thing they mentioned was the value of the owner being present to answer questions, or at least having a good package of historical info to show the details of any restoration. At Mecum most cars have a reserve (not at BJ), and they said many times that the bidding is restrained until the reserve is off, with bidders "hunting" for that reserve without over shooting, and then once they know they can win the bidding may become more spirited assuming one has two or more who are ready to buy. Not sure I'd take the risk of a no reserve auction in today's market.