+10. Pull the bb, make sure there is not water in the frame, regrease bearings or possibly replace it with a cartridge unit. New cables and housings, replace wheel bearings and grease, regrease headset bearings, pull the seat post and stem and grease them up, and you will be good to go.

While this might look like a long list, you are only talking about $10 if you don't replace the bb, and a few hours of work if you do it yourself. A couple of years outside in the weather really accelerates the aging process. Well worth the time and small investment.