Fireamrs of that era are a pretty touchy project. There are pro's and con's to each route. The big decision is really a matter of what you want to do with it. If you think it's valuable and want to retain that value, do nothing, except a light coat of oil to preserve all the metal. Do not strip or repair anything. No steel wool, nothing, just preserve what it is. The bore might need a bit more attention because, as I'm sure you know, black power is corrosive and needs to be neutralized, or it may continue to rust the bore. This however, is best left up to someone with the skills and specializes in something like this (read: not me). I don't have enough experience with antique firearms to be of help, other than to say what I have above.
The other route, like you mentioned, is to restore it to an original state. Again, best left up to someone who specializes in this type of work. You WILL spend gobs of cash going this route, and even then, may not be worth any more, possibly even less, than if you had left it alone in the first palce.
Long story even longer, I have no good answer. It's hard to judge these things, sight unseen, and not knowing what you really want in the end.
If you want to just get it back into mechanical working order, try a company called Tracks of the Wolf. Not sure if ther are on the internet or not, but shouldn't be hard to find. They deal in this kind of thing, parts, re-enactors, etc. But, I have a sinking feeling that with what you have, you may have to have a good 'smith make the parts you need anyway.
However you look at it, I would recommend NOT attempting to fire it, regardless. Something that old can be a real danger. There isn't a good way to see if there is enough wall thickness to be safe. Even if you get away with firing it a few times, you never know when she'll let go. Upwards of 30 to 50,000psi blowing up 3 inches in front of my nose isn't what I call a good time.
Hope this helps. Feel free to ask any questions you have.
DLR <img src="/images/graemlins/smile.gif" alt="" />
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