That's a great looking machine. Nothing to dislike about a full Reynolds 531 frameset and some lovely components.
In my experience, the money you'd spend on a really comprehensive renovation (new paint etc) you'd be unlikely to get back.
More likely, if you're thinking a strip down, clean, regrease and new inner cables, tubes etc then why not! Always good to make an old bike rideable again.
But I'm sure someone would be happy with it as is and would enjoy doing those jobs themselves.