Personally. I would shoot it and test it for power. Then I would strip it, check the main spring, de-grease and graphite powder the trigger and set that up before re-building with new grease (and new main spring?).
Over the barrel I would put some of that heat shrink tubing that they put over wiring looms. The action? Plasticoat? Or go the whole hog and have it professionally re-blued. It depends what you want it for.
The scope I would bin. The stock, strip, remove any dents and re-finish. Then I would shoot it and enjoy it.
But thats just me personally.
If you need any s/h parts give me a shout (Ive a couple of bits. ;-) )
ATB
Ian