Huzaifa - only the needles will glow red, and the brightness of the meter may be increased. But it will no way be anything close to the 2004 model.
I suggest you let it stay the way it is ..it is beautiful. I personally never really liked the three dial meter in 2004 model, its kinda unbalanced.
As for the lights, again a suggestion, do NOT put projection lamps. They decrease the visibility immensely. However if you still want them, on your next trip to Lahore you can pick them up from my place.