Rod / Reel refurbs

Hey guys

I recently was given a bunch of old rod and reels from my father that he stored in the attic from his own boating days. Lighter action stuff for the most part, but I did salvage some old Penn reels and a Penn Senator reel (with 20 year old wire line on it )that are in decent shape. I think I can clean them up and get some use out of them and was also thinking about refurbing the rods too, be kinda cool to use the old stuff dad used to use. He would get a kick out it.

I never built my own rod before but have been thinking about. The reels need to have some grime cleaned off of them, maybe a little bit of corrosion, but they are in decent shape. As far as the rods, the tips and guides are shot (corroded to ****) plus I am wondering if it is even worth it to re-furb old rods.

Is it worth it and is there anything I should look at that right off the bat will tell me it is not worth it? Also, anything good out there to use to clean up old reels other than the Soap / water, Never Dull and WD 40 that I have?

I need to know what I am getting into before I tell the wife I am picking up another hobby, lol. I would like ot eventually learn how and make my own rods. Thanks in advance.