Before you start, you may want to really inspect it well or have someone do it for you. Look for cracks and twisted limbs. If everything looks good, or has problems which can be fixed, then go ahead and restore.

I bet it has a lot of sentimental value and taking something with it would sure be a lot of fun.

I was in a similar situation with my Dad's old Bear from the mid 60's. I remember looking at it as a kid in amazement. Now it's mine, and it is still very shootable. Only problem is finger pinch. I believe it is 52" long and with a 29" draw, it's a bit painful to shoot.