depends what you want it for. do you want to restore a bicycle to ride around town at an easy pace with? if so, yeah, go for it. do you want a bicycle to ride on trails or off road? if so, then probably not. but you still could.

you can take any bicycle off road, or around town. you can buy a bike from walmart and race super D on it. you can do whatever you want with any bicycle you have. it's a question of if the bicycle will break, if you will be comfortable, etc.

so ask yourself the question. is it worth my time and effort? only you know the answer.