You'll love it! I find that ripping into my "new" old bike is theraputic and relaxing. Plus it's really easy. A bike broken down into it's basic components is a very simple machine. There is no voodoo magic to it.
Last night I trued my rear wheel, repacked the bearings, flushed out the freehub, and then cleaned, degreased, and oiled my rear deraileur. That all took me about 3 hours with stopping for cooking and eating dinner in between.