Brajen: Model 70s value wise are over rated though a 1937 might have value, a big part dependence on caliber (which you should list).
A rare caliber can be worth a lot even if the gun is worn.
30-06 or 270 would not be, its just another gun, nice one, cool old one but certainly some where in the ball park you paid for it.
If its a rare collectible, NO, do not mess with it, sell it to someone who values it (I had a Luger that I thought was a shooter, turned out to be a all match with military markings and a holster that matched, never shot it (one parts breaks and its no longer a collectible) and sold it to a Luger collector.
If its a run of the mill common caliber, then by all means pretty it up.
I would not pay you much if any for that labor (not a 70 fan, a 70 fan might go you somewhat more) . Its still just an old common gun.
I have an untouched 2nd years Sako Finnbear (I fell in love with them due to the family 270) - I won't do anything to it, while not exactly collectable they go up in value over the years matching the original price. That is based on it not being messed with (and in good condition)
I can sell it for close to what I paid for it now and in 5 years what I did pay for it.
So, figure out what you have, what is worth in what condition and go from there.