I'm a sentimentalist when it comes to nice old custom rifles. If you know its history and want to preserve it, what's to restore? It looks like this rifle has a decent blue job and pretty nice finish on the wood. If it were mine and I bought it because I liked it, I would carefully take it apart and clean out whatever old crud might be adhering to its parts, apply a light coat of oil (I live in a very damp climate), and put it back together in its current configuration. If it has a good bore and I wanted to try it out at the range, I might load up some cartridges with fairly light bullets, possibly hollowpoints, that might stabilize well in the 14:1 twist, and have at it. I have not had great success with 3/4 inch Weaver scopes and power boosters, but I might try it first with its current (ugly) scope configuration, and be prepared to try a more modern scope on it just to see what the rifle can really do from the bench. If I were not going to shoot it frequently, I would put the original scope back in its place. Beyond that, I wouldn't do a thing to this interesting rifle.