If I'm reading the down tube decal correctly you've got a Tipo Sprint model there. Definately not a Colnago Saronni but a nice little bike all the same.

Mine originally had a Suntour Cyclone/Gippieme/Ofmega mixed bag of parts, now mostly NR.

Like the others I'm not sure it's worth major reconstruction. If it's structurally sound and straight just build it up and ride her.

Heres a shot of mine.

'Rasher