hello Bronco,
if you plan to enjoy your piano for years to come and it belonged to a beloved relative... then yes it Might be worth it ... on the other hand if you got it for cheep off of Craigs list, or something like that ... then save up about 3500 to 4000 dollars and go to the largest piano store within say 100 miles plus or minus a bit... and buy a really good used piano or a brand new entry level piano... it will save you time and money... for rebuilding your "old upright" may cost upwards to 8000 to 10000 dollars, depending on what Needs to be done. at that age i can just imagine the condition, you may need to restring it and install new tuning pins , new pinblock, new bridge, maybe even soundboard repair, then we get into the action, new hammers , shanks and hammer butts, new whippens , new keytops and key bushings... the cost adds up quickly. i know, i am a piano technician here in SW washington... do you have a pic of the serial number and name on the cast iron Plate behind the front inside? my experience shows only about 1 in 100 may be worth it... also the option to replace the action with an electric keyboard ( yes there are units made just for placing inside pianos, ) is also a less costly alternative... (about 1500-2000) i suggest you contact a piano tech in your area... look for a PTG member... and good luck on your quest.
kd7
mark