I fix a lot of these in my spare time either as an adjunct to my LBS (who didn't have the time to handle all of the older bikes that got pulled out of basements this past spring) or to get other folks onto properly fitted bicycles who otherwise wouldn't have one.
Fix it up, clean it up, and if you can get a donation from the lucky recipent towards the next resurrection then great. If not then give it away to a needy student or other person and enjoy the feeling of moving civilization ahead a millimeter or so. Just my $.02