I've unstuck my share of old engines and got them running again, it can be fun and rewarding.
But a stovebolt.... they're not that rare or uncommon at all, so unless that particular engine has some significance to you or you just like the challenge why not spend less time, effort, and money on an engine in better shape to start with?
Sure try it, but don't get in to deep when better engines are still available and cheap.
Grigg