Well, you have gotten plenty of advice, so I will just add my 2 cents worth. I am currently finishing a GP Cub that was given to me about 75% complete. (76.5" Wing Span)
I am using Solartex to cover it. I ordered the Solartex in the Cub Yellow color from Balsa USA. I can't tell you how pleased I am with this covering. I had no previous experience with fabric coverings and I can't believe the ease of covering with Solartex. It goes around the curves, wingtips, etc. with no strain or pain. It works so easy with just an iron.

I highly recommend this covering. I will spray it with LusterKote clear. The Solartex is fuelproof, but I understand from those that have used it for sometime that because it is fabric that it can get somewhat dirty after awhile. Some just recommend scrubbing it with a soft brush and soap and water occasionally.

Anyway, good luck with your Cub. Overall, I think it looks good enough to make some repairs, remove some wrinkles, fly it, see how you like it and recover it this next winter.