I would. I love taking stuff apart! If you are mechanically inclined and like to mess around with stuff then you'll enjoy this. That's how you learn. If it wasn't used that long then it definitely needs cleaning and new grease (grease might have hardened, lubes leaked/dried out). Make sure you have all the right tools, spare parts, lubes though or it'll be very frustrating. A bike stand will help a lot and make it more enjoyable. I have a $100 Park stand and cheap Nashbar toolkit ($150?) and they work fine. Check
Bicycle Tutor videos and go for it!
Mind you, if you need to buy tools it will cost you more than having your LBS do this (perhaps even several hundred dollars) but you will loose out on the learning and fun part. However, as it was pointed above a basic tuneup will not be enough here, you're probably looking at complete overhaul of all bearings, you may need new tires even, tubes definitely. Also, there is a good chance you'll do this more thoroughly yourself than the LBS and you will get to know the bike intimately which will enable you to repair and maintain it yourself in the future as well as predict and prevent failures. So in a long run the investment in tools may actually pay for itself.
Adam