I just did a 30 miler on my 1996 C40 a couple days ago. The price is right so go for it and have fun! Mine is carbon wrapped aluminum lugs. The only structural issue I’ve encountered with mine is the BB threading is very worn and for a while I couldn’t get the drive side to cinch down. I ultimately fixed that with a Phil Wood BB (adjustable cup both sides) and a generous amount of blue Loctite.
If fork on yours is original, it will be a steel Precisa and if the project doesn’t work out, you will have a line of people who would like to buy that fork from you.
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N = '96 Colnago C40, '04 Wilier Alpe D'Huez, '10 Colnago EPS, '85 Merckx Pro, '89 Merckx Century, '86 Tommasini Professional, '04 Teschner Aero FX Pro, '05 Alan Carbon Cross, '86 De Rosa Professional, '95 Gios Compact Pro, '95 Carrera Zeus, ‘81 Masi Gran Criterium, ‘81 Merckx Pro, ‘89 Cinelli Supercorsa, ‘83 Bianchi Specialissima, ‘VO Randonneur, Ritchey Breakaway Steel, Rivendell Rambouillet, Heron Randonneur, ‘92 Ciöcc Columbus EL