Strip it for parts!
Now that I got the rabble roused.....
Clean it up and shoot it, unless you are planning to sell, in which case, cleaning it up and selling it is the thing to do. It won't shoot any worse for having a few dings in the stock, and, unless you are truly a talented guy in the restoration side of things (What are the odds of that, given the question?) you won't make it any more valuable by refinishing it.
Clean up the rust and dried oil mung, run a couple patches through the barrel, carefully (the barrels on those are kick-ass, from the factory, a Parker-Hale reline is as good) so as to not add to the destruction of the rifling at the crown, and keep it clean and oiled.
I bought a bare action, exact same model (takedown, cocking indicator) in pretty nice shape, last year for $300, and have seen complete rifles in the EE for anywhere from $350 on up, depending on the seller.
Decide what you want to do with it. Keep it? fix it up and flog it?
My inclination would be that it's not going to shoot better or sell for more money if it's refinished, but it's a fair bit of work. Just cleaning it up and enjoying it, seems a better investment of time.
Cheers
Trev